delivered 84,559 vehicles in January-August, down 9.26 percent from a year earlier.

Neta Auto, the new energy vehicle (NEV) brand of Chinese firm Hozon Auto, saw an improvement in deliveries last month from the previous month, but was still lower than the same period last year.

Neta delivered 12,103 vehicles in August, up 21 percent from 10,039 in June, but down 24.44 percent from 16,017 a year earlier, according to data released today.

Neta did not disclose delivery figures for specific models. The company delivered 84,559 vehicles in January-August, a decrease of 9.26 percent year-on-year.

Since its inception, Neta's cumulative deliveries stand at 332,608, data monitored by CnEVPost showed.

Neta was founded in October 2014 and received vehicle production qualifications approved by China's economic planner, the National Development and Reform Commission, in April 2017. In November 2018, Neta's first model, the N01, was launched.

The company has been seen as a budget EV maker since its inception, as it has primarily targeted the lower end of the market over the past few years.

Neta's current models on sale include the Neta Aya, Neta U, Neta S Neta GT.

The Neta Aya and Neta U currently start at RMB 73,800 ($10,170) and RMB 118,800 in China, respectively.

The Neta S, its first effort at the premium end of the market, officially went on sale in China on July 31, 2022, with a current starting price range of RMB 159,800 to RMB 269,800

On the first day of the Shanghai auto show on April 18, Neta officially made the Neta GT sports car available, with a current starting price of RMB 178,800 to RMB 226,800 yuan. Deliveries of the model began on May 13.

Neta closed a Crossover round of financing in the amount of RMB 7 billion, the company announced on August 29.

Crossover rounds are different from the common Series A, B, and C rounds, which are usually the final financing before a company goes public. This type of financing refers to capital-raising activities by private companies that include investors who traditionally invest primarily in publicly traded companies.

($1 = RMB 7.2555)

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