Smart and Sustainable Electric Mobility
Neta has launched two new variants of the Neta S with a shorter range and weaker performance, bringing the starting price of its flagship sedan down to under RMB 200,000.
(Neta S on 2023 Shanghai auto show. Image credit: CnEVPost)
Price cuts are tricky in China's electric vehicle (EV) market, as they can spark protests from existing owners. So, launching lower-priced versions based on existing models has become one option for EV makers that need to boost sales.
Neta Auto, the EV brand owned by Hozon Auto, today launched two new variants of its flagship sedan, the Neta S, bringing the model's starting price down by 13,000 yuan ($1,880) to under RMB 200,000.
The new variants -- the all-electric Neta S 520 Lite and Neta S 520 -- start at RMB 189,800 and RMB 199,800 respectively.
As a comparison, the least expensive version of the Neta S previously on sale was a model with extended-range technology, starting at RMB 202,800.
The lowest-priced version of the pure electric Neta S was previously available in a version with a CLTC range of 715 km, starting at RMB 248,800.
The Neta S 520 Lite and Neta S 520 both have a CLTC range of 520 km and use a lithium iron phosphate battery pack with a capacity of 64.46 kWh.
These lower-priced Neta S BEVs can accelerate from 0 to 100 km/h in 7.4 seconds.
For comparison, the least expensive Neta S BEV with a range of 715 km uses a ternary lithium battery pack with a capacity of 84.50 kWh and can accelerate from 0 to 100 km/h in 6.9 seconds.
The Neta S 520 Lite and Neta S 520 are also weaker than the previously available Neta S BEV in some other specifications, such as the absence of a hands-free power tailgate.
Neta has been considered a budget EV maker since its inception, as its vehicles are priced primarily at the lower end of the market, with the Neta V and Neta U priced at around RMB 100,000 to RMB 150,000.
The Neta S is its first effort at the premium end of the market, officially launched in China on July 31, 2022.
Neta delivered 11,080 vehicles in April, up 25.72 percent from 8,813 in the same month last year and up 9.84 percent from 10,087 in March, according to data released earlier this month.
Neta S delivered 2,237 units in April, up 1.41 percent from 2,206 units in March.
In January-April, Neta delivered 37,256 vehicles, down 4.39 percent from 38,965 in the same period last year.
The Neta S delivered 8,008 units in January-April, for a cumulative total of 10,213 units since deliveries began last October, data monitored by CnEVPost show.
($1 = RMB 6.9240)
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The ES7's current expected delivery date is about 4 weeks, up from about 3 weeks previously.
(Image credit: CnEVPost)
NIO's (NYSE: NIO) ES7 SUV has seen slightly longer wait times in China. Late last month some owners of the model voiced their displeasure as the new ES6 is coming.
The ES7's current expected delivery date is about 4 weeks, up from about 3 weeks previously, information from the NIO App monitored by CnEVPost shows.
The last change in the information was on April 25, when the model's wait time was reduced from 3 to 5 weeks to about 3 weeks.
(Screenshot on May 9.)
The NIO ES7, launched on June 15, 2022, is NIO's second model based on the NT 2.0 platform and is the first SUV on this second-generation platform.
NIO began deliveries of the ES7 on August 28, 2022, with a cumulative total of 15,123 units delivered by the end of January this year, according to data monitored by CnEVPost.
Late last month, many ES7 owners formed WeChat groups in order to jointly protest to NIO arguing that the automaker betrayed them because the new ES6 will not only have lower prices, but also have a competitive edge with their vehicles.
NIO officially launched the 2023 ET7 sedan and gave the improved ES6 its debut on the first day of the Shanghai auto show on April 18.
The new ES6 is already available for pre-order, but the official launch will be in late May. William Li, NIO founder, chairman and CEO, said previously the model will move quickly from official launch to delivery.
NIO's website and app currently showcase seven models -- the new ES8, ES7, new ES6, EC7, EC6, ET7, and ET5.
In the vehicle configurator of NIO App, there are 5 models available -- new ES8, ES7, EC7, ET7, ET5, and the configurator of new ES6 and EC6 based on NT 1.0 platform is not available.
Wait time information for all other NIO models remains unchanged, with the new ES8 still showing deliveries expected to begin in June, the EC7 wait time around 5 weeks, the ET7 around 3 weeks, and the ET5 around 2 weeks.
Below is CnEVData's redesigned tracking table for NIO model wait times, you can subscribe to see the details.
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