Chinese automaker Hozon Auto announced its intention to penetrate the Indonesian market with its Neta-branded electric vehicles (EVs) during the final quarter of this year. This move is part of the company’s strategic expansion across Southeast Asia.
Hozon unveiled three distinct EV models at the Gaikindo Indonesia International Auto Show, which is set to commence on August 10.
The company has opened pre-orders for its popular Neta V crossover model in Indonesia, pricing it at 379 million rupiahs ($24,967), as stated by the company spokesperson.
With aspirations to deepen its local presence, Hozon also detailed its blueprint to initiate localized manufacturing and assembly processes in Indonesia.
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This transformative endeavor is slated to begin in the second quarter of 2024. Wang Chengjie, the President Director of PT NETA Auto Indonesia, expressed that the local manufacturing facility will boast an annual production capacity of 30,000 units.
In light of the challenges posed by the domestic economy, Chinese automobile manufacturers are redirecting their focus towards international markets. A remarkable surge of 63% in export figures was observed in July on a year-on-year basis, following a substantial 56% escalation in June.
In the initial half of this year, Hozon exported a commendable tally of 6,970 vehicles. Notably, these Neta EVs have been well-received in several Southeast Asian nations including Thailand, Myanmar, and Nepal.
Hozon operates two manufacturing plants within China, collectively equipped to yield an impressive 150,000 units annually.
Beyond the borders of China, the company is in the process of establishing its inaugural overseas manufacturing facility in Thailand, with the goal of commencing production activities in January 2024.
Amongst its product lineup, Hozon’s Neta V model emerged as the second best-selling EV in Southeast Asia for the initial quarter of this year. This achievement positioned it just behind the Atto 3 model by BYD, as corroborated by research entity Counterpoint.