Chinese EV maker Hozon launches latest model to boost sales ahead of Hong Kong IPO

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The Neta S, targeting rivals like Zeekr’s 001, starts at US$22,450 and comes in extended-range variants with a range of 1,200km

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Hozon’s Neta S will begin deliveries in September, according to the company. Photo: Weibo

Daniel Renin Shanghai

Published: 3:30pm, 26 Aug 2024Updated: 3:34pm, 26 Aug 2024

Hozon New Energy Automobile, the Chinese start-up behind the Neta brand of electric vehicles (EVs), has launched a wagon-style vehicle with an extended-range edition that can go as far as 1,200km.

The Shanghai-based company, which is planning a Hong Kong initial public offering (IPO), announced on Sunday evening that the new car, the Neta S, would start at 159,900 yuan (US$22,447), with delivery to begin in September.

The car aims to take on the Zeekr 001 from Geely’s premium EV unit Zeekr, which is priced at 259,000 yuan in the basic version.

“We feel it safe to say that the new model is worth owning because it will offer customers the best performance and experience,” Hozon CEO Zhang Yong said during a briefing on Sunday. “We are using our latest materials and technologies to reward our clients.”

A wagon, also known as a station wagon, an estate car or a shooting brake, is a sedan-height car with an elongated boot and rear seats.

The Neta S extended-range variant sports a price tag of 169,900 yuan to 179,900 yuan. Like other extended-range EVs on the market, it has a small internal-combustion engine that generates additional power to charge the battery when needed.

Neta is a variation of the name Nezha, a protection deity in Chinese mythology. The brand falls in the budget category in China and is aimed at middle and low-income drivers who prefer battery-powered vehicles to petrol-based cars.