The new Neta S has a starting price of RMB 159,800, which is RMB 30,000 lower than the RMB 189,800 of the old model.
(Image credit: Neta)
Hozon Auto's new energy vehicle (NEV) brand, Neta Auto, has launched a facelifted version of its flagship sedan, giving it a significantly lower starting price, following other peers in the fiercely competitive market.
Neta yesterday launched a facelift for the Neta S, which the company is calling the 2024 model year, with a starting price of RMB 159,800, down RMB 30,000 ($4,184), or 15.81 percent, from RMB 189,800 for the previously on-sale model.
The model is unchanged in terms of dimensions, with the exterior and interior design remaining the same as the old model. It continues to offer two options in terms of powertrains -- an extended-range electric vehicle (EREV) version and a battery electric vehicle (BEV) version.
The starting prices of the three BEV versions of the new Neta S are RMB 229,800, RMB 259,800 and RMB 269,800 respectively.
Its three EREV versions start at RMB 159,800, RMB 179,800, and RMB 189,800, respectively.
For comparison, Neta S previously sold the lowest-priced all-electric Neta S 520 Lite at a starting price of RMB 189,800.
The previous lowest-priced EREV version of the Neta S started at RMB 202,800.
Neta said deliveries of the new Neta S started at launch, without giving further details.
The new Neta S EREV is powered by a 1.5L displacement engine with the electric motor having a peak power of 170 kW and maximum torque of 310 Nm.
Its two lower-priced variants are powered by a 31.7 kWh capacity battery pack and the highest-priced one is powered by a 43.9 kWh capacity battery pack, with CLTC ranges of 200 km and 300 km on battery power respectively.
The single-motor version of the new Neta SBEV is equipped with an electric motor with a peak power of 170 kW, while the four-wheel drive version is equipped with front and rear motors with a peak power of 170 kW.
The model is equipped with battery packs with capacities of 84.5 kWh, 91 kWh and 85.1 kWh and CLTC ranges of 715 km, 650 km and 715 km respectively.
Neta has been seen as a budget EV maker since its inception, as its vehicles are priced primarily for the low-end 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, initially launched on July 31, 2022 in China.
Neta delivered 12,132 vehicles in June, down 6.88 percent from 13,029 in May and down 7.79 percent from 13,157 in the same month last year, according to data released in on July 1.
June deliveries included 1,201 vehicles delivered overseas, according to Neta, the first time it has released overseas delivery figures.
($1 = RMB 7.1697)