Neta

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.

Neta delivered 36,241 vehicles in the second quarter, up 9.89 percent from a year earlier and up 38.45 percent from the first quarter.

Neta is actively preparing for entry into the European market and will release a heavyweight global model, it said.

Earlier today, Bloomberg reported that the company is considering filing for its $1 billion Hong Kong IPO as soon as this month.

Neta delivered 11,080 vehicles in April, bringing its cumulative deliveries since inception to 285,305, according to data monitored by CnEVPost.

Neta delivered 11,080 vehicles in April and is targeting sales of 300,000 units in 2023.

In the increasingly competitive Chinese EV market, EV makers are hoping to capture initial consumer enthusiasm and avoid losing potential orders.

Prior to entering Malaysia, Neta's efforts in Southeast Asia focused on Thailand and began construction of a Thai factory in March.

Neta has launched two new variants of the Neta S with a shorter range and weaker performance, bringing the starting price of its flagship sedan down to under RMB 200,000.

From January to April, Neta delivered 37,256 vehicles. The company is aiming to deliver 300,000 vehicles this year.