Chinese EV maker Hozon predicts fivefold jump in overseas sales as growth slows in hyper-competitive domestic market

The Shanghai-based maker of Neta-branded cars aims to deliver 100,000 units in 60 overseas markets this year, mainly in Southeast Asia

Company started assembling vehicles at its first overseas factory in Thailand in November, about two months ahead of schedule

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Performers present a Hozon NETA V during a launch ceremony in Bangkok, Thailand, on August 24, 2022. Photo: EPA-EFE

Published: 6:00am, 5 Jan 2024

Chinese electric vehicle (EV) start-up Hozon New Energy Automobile expects its sales outside mainland China to jump five-fold in 2024 as the country’s increasingly confident carmakers look to international sales to counter slowing growth at home.

The Shanghai-based maker of Neta-branded cars, aims to deliver a total 100,000 units in 60 overseas markets this year, mainly in Southeast Asia, as it starts operations of assembly plants in Thailand and Indonesia, according to vice-president Zhou Jiang.

At that level, overseas sales would account for a third of Hozon’s total deliveries in 2024, which are likely to hit 300,000 units, he said.

“Overall, Chinese-made electric cars are well received by customers around the world,” he said in a media briefing on Thursday. “Moreover, we are confident of our company’s global perspective with the goal of designing and manufacturing EVs for all the people.”

Hozon New Energy Automobile EVs await shipment overseas from Shanghai. Photo: Weibo

At the end of November, Hozon, also known as Neta Auto, started assembling vehicles at its first overseas factory in Thailand, about two months ahead of schedule. The plant, with an annual capacity of 20,000 units, produces right-hand-drive versions of Neta vehicles.

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