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Neta Motors manufactured the 300,000th vehicle, accelerating on the Chinese market. What is the Neta's secret?
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Permalink | Email this | CommentsNeta delivered 11,080 vehicles in April, bringing its cumulative deliveries since inception to 285,305, according to data monitored by CnEVPost.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, saw its 300,000th production vehicle roll off the line today, marking an important milestone in the company's history.
Neta saw its 100,000th vehicle roll off the line in January 2022. The company delivered 152,073 vehicles last year, up 118.26 percent year-on-year.
The latest milestone comes 16 months after it rolled off the line its 100,000th vehicle.
Neta has been seen as a budget EV maker since its inception in 2014, as its vehicles are priced primarily at the lower end of the market, with the previous main sellers Neta V and Neta U priced at around 100,000 yuan ($14,080).
Neta's flagship sedan, the Neta S, is its first effort at the premium end of the market, with the model primarily targeting a price range of RMB 200,000 to 300,000.
The Neta GT sports car was launched on April 18 with a starting price of RMB 178,800 to RMB 227,800.
Neta delivered 11,080 vehicles in April, bringing its cumulative deliveries since its inception to 285,305 units, data monitored by CnEVPost shows.
The company is expected to announce May's delivery figures on June 1.
Neta is targeting sales of 300,000 units in 2023, local media China Securities Journal reported on February 7.
Neta opened its global headquarters in Shanghai on May 29, as it tries to build a more premium brand image.
Previously it had a Shanghai headquarters in the Minhang district of Shanghai. It has a design center in Beijing and a factory in Tongxiang, Zhejiang province.
($1 = RMB 7.1037)
Neta begins deliveries of electric sports car Neta GT, less than 1 month after launch
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With the price of battery-grade lithium carbonate falling back to around RMB 300,000 per ton, the cost advantage of sodium batteries is seen as no longer prominent.
The dramatic rise in lithium carbonate prices over the past few years has led many to look to the lower cost of sodium-ion batteries.
However, with the prolonged decline in the price of lithium carbonate, a key raw material for lithium-ion batteries, earlier in the year, the cost advantage of sodium-ion batteries is seen as having diminished significantly.
Battery-grade lithium carbonate surged in 2022, with prices once topping RMB 600,000 (84,400) per ton, and in this context, sodium-ion batteries were highly sought after, the Shanghai Securities News noted in a report today.
However, very few models are confirmed to carry sodium-ion batteries this year, with only Chery's iCar, Sehol E10X and Jiangling EV3 having been the few ones, the report said.
Meanwhile, the price of battery-grade lithium carbonate has fallen back to around RMB 300,000 per ton, and the cost advantage of sodium batteries is no longer prominent, the report said.
Lithium carbonate price in China rose to about RMB 600,000 per ton at one point in November 2022, about 14 times the average RMB 41,000 per ton price in June 2020.
After that, however, lithium carbonate price began to decline until a month ago, when it finally stopped falling.
Prior to April 21, lithium carbonate price had not seen a single day of gains in China this year, falling about 65 percent since the beginning of the year.
Battery-grade lithium carbonate today averaged RMB 305,000 per ton in China, while industrial-grade lithium carbonate stood at RMB 290,000 per ton, according to data from Mysteel.
The battery industry chain has been actively developing sodium-ion batteries in recent years, and currently has mass production capabilities, but the feedback from the demand side is not positive, the China Passenger Car Association (CPCA) said in a report on May 22.
Sodium-ion batteries are still in the early stages of industrialization, and their cost advantages cannot be fully exploited at this time due to controversial core technology routes, inadequate supply chain preparation, and immature production processes, the CPCA said.
Sodium-ion's abundant resource reserves are difficult to quickly translate into cost advantages, and when the cost of lithium iron phosphate batteries is rapidly declining, automakers are hardly motivated to choose to carry sodium-ion batteries in the short term, according to the CPCA.
Nevertheless, the development of the sodium-ion industry chain in China continues.
There are currently more than 35 sodium-ion battery manufacturers in China in the interim-testing stage, with another 50 or more in the lab stage, Shanghai Securities News said, citing data from local think tank GGII.
Companies able to provide samples are expected to exceed 20 in the first half of 2023, and more than five companies will achieve mass production of sodium-ion batteries in the second half of the year, according to the report.
The sodium-ion battery industry chain is not yet mature, and it will take at least two to three years for the industry to really move toward industrialization, said Chen Liangqin, director of local lithium battery maker Veken Technology, as quoted by Shanghai Securities News.
($1 = RMB 7.1032)
Battery-grade lithium carbonate price up by RMB 2,500 per ton
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Yuan Pro EV is a small five-seat electric SUV launched by BYD with a length of 4375mm and a wheelbase of 2535mm.
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The Yuan family of models sold 39,160 units in April, making it the second highest-selling BYD model for the month. | BYDDY.US | BYD HK
(Image credit: BYD)
BYD (OTCMKTS: BYDDY) today officially launched the 2023 Yuan Pro, a compact SUV originally rolled out by BYD in March 2021.
The improved version of the Yuan Pro is offered in three versions with starting prices of RMB 95,800 ($13,500), RMB 105,800 and RMB 113,800 respectively.
BYD started the pre-sale for the 2023 Yuan Pro on April 7, when the pre-sale prices for these three versions were RMB 99,800, RMB 109,800 and RMB 119,800 respectively.
Compared with the pre-sales, the launch prices of the three versions of the 2023 Yuan Pro has been reduced by RMB 4,000, RMB 4,000 and RMB 6,000 respectively.
The model's length and height are 4,375 mm, 1,785 mm and 1,680 mm respectively, with a wheelbase of 2,535 mm.
It continues the Dragon Face 3.0 design language of the previously available model.
The 2023 Yuan Pro is based on the BYD e-Platform 3.0 and features an electric motor with a maximum power of 70 kW and a maximum torque of 180 Nm, accelerating from 0 to 50 km/h in 4.9 seconds.
The car offers two range versions, with a CLTC range of 320 km and 401 km, respectively. It is equipped with a lithium iron phosphate battery pack with a capacity of 38 kWh and 47.04 kWh, respectively.
The 2023 BYD Yuan Pro supports DC fast charging, which can replenish energy from 30 percent to 80 percent in 30 minutes.
The previously available BYD Yuan Pro was launched on March 21, 2021, when two versions were offered at a subsidized price of RMB 121,300 and RMB 131,400, respectively.
China's purchase subsidies for new energy vehicles (NEVs) end at the end of 2022, and the country's purchase tax exemption for such models was extended until the end of this year.
BYD sold 210,295 NEVs in April, up 98.31 percent from 106,042 units in the same month last year and up 1.55 percent from 207,080 units in March, according to data released on May 2.
Yuan family models sold 39,160 units in April, the second-highest-selling BYD model for the month, according to data monitored by CnEVPost. This represents a 158.18 percent year-on-year increase, but a 3.07 percent decrease from March.
The Yuan family of models includes the Yuan Pro as well as the Yuan Plus, for which breakdown sales figures are not available.
The Qin family of models sold a record 42,202 units in April, making it the highest-selling BYD model for the month.
($1 = 7.1036 RMB)
Musk once laughed at BYD, but now thinks 'their cars are highly competitive'
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The Deepal S7 from Changan, Huawei and CATL has hit the production line in China. To launch tomorrow.
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In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, according to the CPCA.
(Image credit: CnEVPost)
In the first four weeks of May, from May 1 to May 28, retail sales of passenger new energy vehicles (NEVs) in China were 483,000 units, up 82 percent year-on-year and flat compared with the same period last month, according to data released yesterday by the China Passenger Car Association (CPCA).
So far this year, China's retail sales of passenger NEVs were 2.236 million units, up 43 percent year-on-year.
Wholesale sales of passenger NEVs in China from May 1 to 28 were 550,000 units, up 81 percent year-on-year and up 1 percent from the same period in April, according to the CPCA.
So far this year, wholesale sales of passenger NEVs in China were 2.658 million units, up 49 percent year-on-year.
In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, the CPCA said.
So far this year, cumulative retail sales of passenger cars in China were up 2 percent to 7.287 million units.
This means that the penetration of NEVs at retail in China was 34.7 percent in the first four weeks of May and 31.9 percent so far this year.
In the first week of May, May 1-7, the average daily retail sales of passenger cars in China were 54,000 units, up 67 percent from the same period last May and up 46 percent from the same period in April.
In the second week of May, from May 8 to 14, the average daily retail sales of passenger cars in China were 48,000 units, up 44 percent over the same period last May and up 6 percent over the same period in April.
In the third week of May, from May 15-21, the average daily retail sales of passenger cars in China were 48,000 units, up 15 percent from the same period last May but down 12 percent compared with the same period last month.
The average daily retail sales of passenger cars in China for the fourth week of May were 50,000 units, down 17 percent year-on-year and down 33 percent from the same period last month.
The last three days of April were the Labor Day holiday, while the last three days of May are normal sales time, so the month-end increase is still worth looking forward to, the CPCA said.
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Deliveries will start later in July. Mercedes controls 10% share in Denza.
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Geely is in the early stages of planning its entry into Thailand's EV market, including weighing imported and locally made models, Reuters reported.
(A car displayed by Geely's Livan brand at the Shanghai auto show in April 2023. Image credit: CnEVPost)
Thailand is a key stop for Chinese automakers as they expand internationally, with Geely reportedly becoming the latest to target that Southeast Asian market.
Geely is in the early stages of planning its entry into Thailand's electric vehicle (EV) market, including weighing imported and locally built models, Reuters reported today, citing two people familiar with the matter.
Considerations include whether to sell entry-level EVs in Thailand, as well as an electric pickup truck under its new Radar brand, the people said.
Thailand's Board of Investment held discussions with five major Chinese automaker makers, including Geely, during a road show in China in April, the report said, citing Narit Therdsteerasukdi, the board's secretary general.
The other companies are BYD, Changan Automobile, JAC Motors and Jiangling Motors, according to the report.
Discussions with Geely have faced additional complications because the company has given working-level autonomy to brand-level operating groups such as Geometry and Radar, the report said, citing a person familiar with the matter.
Geely needs to decide what models to bring to Thailand, and its review includes the possibility of building a plant in Thailand, according to the report.
Geometry, an EV brand Geely launched in 2019, sold 57,877 units in the January-April period, up 73.54 percent year-on-year, according to data monitored by CnEVPost.
Radar, Geely's outdoor lifestyle brand unveiled in July 2022, launched its first model, the RD6 electric pickup, in China in November 2022.
The Thai government's goal is that EV production is expected to account for 30 percent of total vehicle production by 2030.
The country hopes to become a major EV hub in Southeast Asia, which provides an opportunity for Chinese automakers.
On March 10, BYD broke ground on its plant in Thailand, when the company held a ceremony to deliver the 9,999th and 10,000th BYD Atto 3s.
BYD's plant is expected to start production in 2024 with an annual capacity of about 150,000 units.
Hozon Auto's brand Neta also broke ground on a plant in Bangkok, Thailand, on March 10, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.
In addition to car companies, major suppliers in China's EV industry chain are also targeting the Thai market.
Gotion Singapore, a wholly owned subsidiary of Volkswagen-backed Chinese power battery giant Gotion High-tech, signed an agreement with Thailand's Nuovo Plus Company Limited on December 15, 2022, to set up a joint venture, according to a bourse announcement at the time.
The two parties plan to establish a joint venture company, NV Gotion Co Ltd, in Thailand to build a power lithium-ion battery pack production base, according to Gotion's announcement.
On May 13, 2022, CATL announced that it had signed a strategic cooperation memorandum with Thailand's Arun Plus to cooperate on battery-related businesses in the ASEAN region.
On May 3 of this year, a Reuters report said that Thailand was in talks with CATL and other battery manufacturers to build production facilities in the Southeast Asian country.
Geely Holding becomes 3rd largest shareholder of Aston Martin, increases stake to 17%
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