Latest news with #HozonAuto
South China Morning Post
23-04-2025
- Automotive
- South China Morning Post
No-shows at Shanghai car expo reflect brutal competition in mainland market
At least 15 companies did not show up at this year's Shanghai Auto Show , adding to evidence that cutthroat competition and rapid consumer movement toward electric vehicles (EVs) are edging more players out of the world's largest car market. Advertisement International marques including Hyundai and Lamborghini as well as Chinese EV start-ups Hozon Auto and Jiyue did not participate in the world's largest auto event, which started on Wednesday. The absences suggest that these companies may be grappling with sharply dropping sales in mainland China or suffering a financial squeeze despite fanfare and enthusiasm around the sector, which is a bright spot in the national economy. 'The auto show is a barometer of the Chinese car market, used by some industry officials to gauge brand awareness and market trends,' said Gao Shen, an independent analyst in Shanghai. 'Brands that miss out will be viewed as underperformers in this mammoth market.' Advertisement More than 70 carmakers from 26 countries were expected to show the latest EVs and technologies, such as swappable batteries and digital artificial intelligence (AI)-powered bells and whistles, to an expected 1 million visitors at the show, according to the organiser.
South China Morning Post
23-04-2025
- Automotive
- South China Morning Post
No-shows at Shanghai car expo reflect brutal competition in mainland market
At least 15 companies did not show up at this year's Shanghai Auto Show , adding to evidence that cutthroat competition and rapid consumer movement toward electric vehicles (EVs) are edging more players out of the world's largest car market. Advertisement International marques including Hyundai and Lamborghini as well as Chinese EV start-ups Hozon Auto and Jiyue did not participate in the world's largest auto event, which started on Wednesday. The absences suggest that these companies may be grappling with sharply dropping sales in mainland China or suffering a financial squeeze despite fanfare and enthusiasm around the sector, which is a bright spot in the national economy. 'The auto show is a barometer of the Chinese car market, used by some industry officials to gauge brand awareness and market trends,' said Gao Shen, an independent analyst in Shanghai. 'Brands that miss out will be viewed as underperformers in this mammoth market.' More than 70 carmakers from 26 countries were expected to show the latest EVs and technologies, such as swappable batteries and digital artificial intelligence (AI)-powered bells and whistles, to an expected 1 million visitors at the show, according to the organiser. Other carmakers active in the market that did not appear included Kia, Rolls-Royce, Lorinser, Dayun, Genesis, Jaguar Land Rover, Rising, Polestar, Durant Guild and Chevrolet. Advertisement Chinese carmakers and supply-chain vendors represent the vanguard of the global EV industry, racing ahead of international giants such as Volkswagen (VW) and Toyota in developing cars that feature high-performance batteries, sophisticated in-car entertainment systems and autonomous-driving software , according to David Xu Daquan, the China president of Bosch, the world's largest supplier of car parts. Car output in China now accounts for more than 30 per cent of the global total, while mainland buyers snap up more than three out of every five EVs sold worldwide, according to data from the China Passenger Car Association (CPCA).
Yahoo
29-01-2025
- Automotive
- Yahoo
Hozon opens first Neta outlets in Brazil, Cambodia
Chinese battery electric vehicle (BEV) manufacturer Hozon Auto announced this week it has officially opened its first Neta Auto sales outlets in Brazil and Cambodia, as the automaker stepped up its global expansion strategy to offset fierce competition in its home market. The struggling BEV manufacturer said it aims to double its overseas sales in 2025 from around 30,000 units last year, which it sold through over 180 sales outlets located mainly in South-east Asia and Latin America. The company said it aims to have ten sales outlets in operation in Brazil by the end of the first quarter of 2025, following the unveiling of the Neta Aya and Neta X at the end of last year. Earlier this month Neta opened a new sales outlet in the Indonesian city of Bekasi and aims to have 30 sales outlets in operation in the country by the end of 2025. Hozon's global sales fell by around 27% to an estimated 100,000 vehicles last year, leaving the company struggling with mounting losses and in search of fresh funding. The company launched a cost-cutting programme last year to improve efficiency and minimise losses. Hozon laid off around 400 workers at its Thai operations at the end of last year, after its local sales plunged by 45% as the number of Chinese BEV manufacturers entering this market continued to increase. "Hozon opens first Neta outlets in Brazil, Cambodia" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
