Neta delivered 11,009 vehicles in January, up 401.6 percent year-on-year and 8.7 percent from December.

Chinese electric vehicle (EV) startup Neta Automobile delivered 11,009 vehicles in January, up 401.6 percent year-on-year and up 8.7 percent from December, according to data released today by the company.

This is the third consecutive month in which the company has delivered more than 10,000 vehicles, after it delivered 10,013 units in November and 10,127 in December.

(Graphic by CnEVPost)

Neta is the EV brand of Hozon Auto, which was founded in October 2014. The first Neta model was launched in November 2018.

Neta currently offers three models in China, the Neta V, Neta V Pro, and Neta U Pro, all starting at under RMB 100,000 ($15,700).

The company did not provide a breakdown of how many of these models were delivered in January.

Neta saw its 100,000th production vehicle roll off the line on January 8, 3.5 years after its first production vehicle rolled off the line.

"The 100,000th production vehicle off the line is a milestone for Neta, and it's just the beginning. Neta's dream is to put high-quality smart electric cars within reach and make smart green mobility accessible to everyone," the company's founder and chairman, Fang Yunzhou, said at the time.

According to data previously released by the company, the total number of deliveries of all Neta models as of December 31 was 95,977 units. That means it had a total of 106,986 units delivered as of January 31.

Neta S, which will be available in 2022, will use Huawei's MDC intelligent driving computing platform and LiDAR technology to enter the premium market, according to information previously announced by the company.

The Neta S will be available in versions with extended-range technology and in an all-electric version.

The model will be equipped with Huawei's MDC computing platform with 200 TOPS computing power, using 2 LiDARs, 5 millimeter-wave radars, 12 ultrasonic radars, 13 cameras, high precision positioning units, and high precision maps, according to information previously announced by the company.

Neta S will be able to achieve navigation-assisted driving on highways and city roads as well as L4-level smart driving in parking and remote summoning scenarios, it said.

Hozon New Energy Automobile, which owns the Neta brand, is looking to raise about $500 million ahead of a potential Hong Kong initial public offering (IPO) this year, valued at 450 yuan ($7.1 billion), Bloomberg reported on January 24, citing people familiar with the matter.

Hozon is working with advisers on the financing and may seek to launch its Hong Kong IPO as early as the second half of this year, the report said.

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