Hozon steps up plans to develop right-hand drive Neta electric cars in Indonesia as it pushes ahead with its Hong Kong stock sale
- The carmaker signed a preliminary pact with PT Handal Indonesia Motor on July 26 to establish a factory in the archipelago
- The venture is poised to commence the assembly of Neta-branded electric cars in the second quarter of 2024, Hozon said
Hozon New Energy Automobile said it would step up its plan to develop a right-hand drive electric vehicle with its Indonesian partner in Southeast Asia as it prepares to raise capital through an initial public offering (IPO) in Hong Kong.
“We are investing to meet the needs of the Indonesian people and support the [local] government’s decision to make the automotive industry more environmentally friendly,” said Hozon’s vice-president of overseas businesses Wang Chengjie, in a statement to the Post. “We hope that Neta will be well received, and can synergise with a good vision and mission in Indonesia.”
The Shanghai-based carmaker did not reveal the size of its investment. The factory, whose location has not been disclosed, will have the capacity to churn out 30,000 cars a year, Reuters reported.
Its Indonesian sales office has begun taking orders for right-hand drive models assembled in China: the flagship Neta S sedan, and the compact sports-utility vehicles Neta U-II and Neta V. Official sales of the models will start in the fourth quarter of 2023, but Hozon did not say when the cars will be handed to Indonesian buyers.
Hozon began construction in March on its first Southeast Asian factory in Bangkok, where it aims to assemble 20,000 EVs a year when production begins at the end of 2024.