Chinese EV brand Neta to launch with new distributor in Singapore by end-2024
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SINGAPORE – Chinese electric vehicle (EV) brand Neta will make its Singapore debut by the end of 2024 with a new motor dealership, Evology Automobile. For a start, two sport utility vehicles (SUVs), the Aya and the X, will be available here.
Neta is an EV brand from Shanghai-based Hozon New Energy Automobile.
Previously, it was reported that Neta would be distributed by Vincar, which was making its foray into authorised distributorship as an extension of its parallel import and used-car dealership operations.
Authorised distributorship arrangements tend to be stable in Singapore. For example, Borneo Motors’ relationship with Toyota dates back to 1967.
Evology was incorporated in June with Mr Lawrence Lim as its director. This is Mr Lim’s first automotive venture, while he continues being in the marine industry.
The Aya has already been approved for sale by the Land Transport Authority (LTA). Being roughly the size of a Honda Jazz hatchback, it can travel up to 338km before needing a recharge. The compact SUV is expected to be priced at below $150,000 with a Category A certificate of entitlement (COE).
The X is going through the approval process for sale. The electric SUV, which is around the size of a Subaru Forester, is expected to be priced between $165,000 and $170,000 with a Category A COE. The car is powered by a 100kW motor and has an operating range of 410km.
Evology’s spokesman told The Straits Times on Oct 4 that it is preparing to have a showroom in the Leng Kee Road area.
The company expects shipment of its cars to arrive in November, and already has the needed agent code to import the cars officially.
Neta launched its first model, the N01, in 2018. In 2023, the company delivered 127,496 cars worldwide, of which 20,000 units were for export markets. Outside China, Neta has manufacturing plants in Thailand and Indonesia, with a combined annual production capacity of 47,000 units.
Neta is also represented in Malaysia, where a manufacturing plant is expected to start production in 2025.
In 2023, ST reported that Neta was going to be brought in by Vincar,
Vincar declined to comment on its current relationship with Neta.
Neta’s Aya is expected to be priced at below $150,000 with a Category A certificate of entitlement.
PHOTO: EVOLOGY AUTOMOBILE
Based on the LTA’s car registration data for 2024 until August, GAC Aion, which started operations here in April, had registered 181 cars. This makes it the third-most popular Chinese EV brand after BYD (3,609 units) and MG (357 units).
Singapore has seen a rush of Chinese car brands being introduced. From just four Chinese brands at the end of 2023, Neta’s official entry will make it the eighth new entrant of 2024 here.
Overall, Chinese brands made up 51.5 per cent of all EVs registered in Singapore between January and August 2024, with 4,445 registrations.
