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Hozon's IPO plan comes after it announced a 7 billion yuan pre-IPO fundraising late on Tuesday in a social media statement. More banks could be added to the syndicate working on the IPO as the deal progresses, they said. Local Hong Kong media reported earlier this week Hozon could raise up to $1 billion in a local listing. Hozon is building its first overseas plant in Thailand and aims to start production there in January 2024. Reporting by Kane Wu in Hong Kong and Scott Murdoch in Sydney; Additional reporting Zhang Yan; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Morgan Stanley, CICC, Kane Wu, Scott Murdoch, Zhang Yan, David Holmes Organizations: Hozon, Beijing International Automotive, Auto, REUTERS, Rights, Zhejiang, New Energy Automobile Co, HONG, Hozon Auto, China International Capital Corporation, Hong, Hong Kong Stock Exchange, Thomson Locations: Auto China, Beijing, China, HONG KONG, SYDNEY, Hong Kong, Indonesia, Thailand, Myanmar, Nepal, Sydney

☆ Indonesia gives automakers more time to qualify for EV credits in investment bid
▼ + stars: | 2023-08-10 | by ( Stefanno Sulaiman | ) www.reuters.com time to read: +3 min

[1/5] A worker stands near a Mini Cooper Electric car, that is displayed during the Gaikindo Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia, August 10, 2023. REUTERS/Willy KurniawanTANGERANG, Indonesia, Aug 10 (Reuters) - Indonesia said on Thursday it would give automakers two more years to qualify for electric vehicle incentives in Southeast Asia's largest auto market, a move followed by investment commitments by China's Neta EV brand and Mitsubishi Motors. The moves announced at the Jakarta auto show come as Indonesia races Thailand and India to build out an EV industry as an alternative to China, the world’s largest producer. Indonesia is Southeast Asia’s largest auto market and its second-largest production hub behind Thailand. Until now, only two manufacturers have shifted enough production to Indonesia to qualify for full incentives: Wuling Motors (0305.HK) and Hyundai (005380.KS).

Persons: Willy Kurniawan TANGERANG, Agus Gumiwang Kartasasmita, ” Agus, Wuling, Hiroyuki Ueda, Stefanno Sulaiman, Kevin Krolicki, Conor Humphries Organizations: Cooper, REUTERS, China's, Mitsubishi Motors, Toyota, Daihatsu, Honda, Mitsubishi, New Energy Automobile, Wuling Motors, HK, Hyundai, Wuling, Air EV, Reuters, Gaikindo, Auto Show, Astra Motor, PT Astra International, Thomson Locations: Indonesia, Tangerang, Jakarta, Thailand, India, China, Southeast, Neta, Gaikindo Indonesia

☆ China's Hozon to start selling Neta EVs in Indonesia from Q4
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

The company also plans to start localized assembly and production for its products in Indonesia from the second quarter of 2024, it said. Wang Chengjie, president director of PT NETA Auto Indonesia, said the local assembly plant will have a production capacity of 30,000 units annually. Hozon, which exported 6,970 cars in the first half of this year, has been selling its Neta EVs to Southeast Asian countries including Thailand, Myanmar and Nepal. It is building its first overseas plant in Thailand and aims to start production there in January 2024. Hozon's Neta V was the second best-selling EV in Southeast Asia in the first quarter, following BYD's Atto 3, according to research firm Counterpoint.

Persons: Tingshu Wang TANGERANG, Hozon Auto, Wang Chengjie, Hozon's Neta, Stefanno Sulaiman, Zhang Yan, Kim Coghill Organizations: Beijing International Automotive, Auto, REUTERS, Hozon, Gaikindo, PT NETA Auto, Thomson Locations: Auto China, Beijing, China, Indonesia, SHANGHAI, Southeast Asia, Gaikindo Indonesia, Hozon, Thailand, Myanmar, Nepal, Jakarta, Shanghai

BANGKOK, July 20 (Reuters) - Chinese automakers dominated Southeast Asia's fast-growing electric vehicle market, selling three out of every four EVs in the first quarter, research firm Counterpoint Research said on Thursday. Thailand - the main regional auto manufacturing hub - is driving the transition, with the country accounting for almost 79% of all EVs sold in Southeast Asia in the first quarter, Counterpoint said. "Chinese auto groups are experiencing rapid growth and outpacing their competitors in the SEA (Southeast Asia) region, with their market share increasing from 38% a year ago to nearly 75%," Counterpoint analyst Abhilash Gupta said. With Chinese EV offerings expanding, Counterpoint said the share of EVs as a percent of total vehicle sales in Southeast Asia could reach 6% by the end of 2023. Indonesia, Thailand and Malaysia are the largest auto markets in Southeast Asia.

Persons: Abhilash Gupta, Devjyot Ghoshal, Emma Rumney Organizations: Research, Great Wall, Chinese EV, SEA, Hozon New Energy Automobile, Thomson Locations: BANGKOK, Thailand, Southeast Asia, Chinese, Asia, Indonesia, Malaysia, Vietnam, Philippines, Singapore, Myanmar

☆ Chinese electric vehicle investment plans in Thailand
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +4 min

July 10 (Reuters) - Chinese electric vehicle manufacturers are pouring into Thailand, having committed to invest $1.44 billion in production facilities in Southeast Asia's biggest automaking hub that has long been dominated by Japanese companies. IN THE PIPELINESeveral deals are also in the pipeline, according to the Thailand Board of Investment (BOI), which has been pursuing Chinese automakers. Chongqing Changan, GAC and Chery did not respond to requests for comment on their plans for Thailand. RISING POPULARITYThe influx of Chinese models appears to be helping to boost the popularity of EVs in Thailand, the second-largest car market in Southeast Asia. On Toyota's (7203.T) Thailand website, the Corolla Altis is priced at 894,000 baht and the Yaris Ativ at 549,000 baht.

Persons: China's, Thailand's, BOI, Geely, Wall's Ora, Devjyot, Jamie Freed Organizations: Asia's, General Motors, EV, Electronics, Auto, SAIC, Charoen, New Energy, Assembly, of Investment, State, Chongqing Changan Automobile, Ford, Mazda, Guangzhou Automobile Group, China's Chery, Chongqing Changan, GAC, Chery, Reuters, Corolla, Thomson Locations: Thailand, EVs, Southeast Asia, Europe, Chongqing, China, BOI, Bangkok

[1/2] The BYD Atto 3 EV car is displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. Siam Motors is in talks with several Chinese automakers about potential partnerships, particularly for high-end electric vehicles, vice president Sebastien Dupuy said in an interview, referring to previously unreported discussions. Thailand is Southeast Asia's largest car producer and exporter, and its second-largest sales market after Indonesia. Japanese automakers are so dominant that for decades they have treated it almost as an extension of their home market. Thailand's pitch to Chinese EV makers has been its existing supply base – built largely for Japanese automakers – and readiness to provide incentives.

Persons: Athit, Sebastien Dupuy, Pasit Chantharojwong, Wall's Ora, Tesla, Isuzu, Hajime Yamamoto, Yamamoto, Goldman Sachs, General Narit Therdsteerasukdi, Narong Sritalayon, BEV, Chayut, Daniel Leussink, Kevin Krolicki, Jamie Freed Organizations: REUTERS, Siam Motors, Nissan Motors, EV, Reuters Graphics CHINA, JAPAN, Toyota Corolla, China's SAIC, Toyota, Honda, Nomura Research, Reuters, Thailand's, of Investment, Wall, Thomson Locations: Thailand, Bangkok, Thailand BANGKOK, Siam, BYD, China, Thai, Southeast, Indonesia, Japan, Europe, JAPAN Bangkok, Tokyo

☆ China's Hozon to produce EVs in Thailand for Southeast Asian market
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, May 6 (Reuters) - China's Hozon New Energy Automobile will make electric vehicles in Thailand for the Southeast Asian market, a Thai official said on Saturday, as it follows others in building facilities in the region's major auto production hub. Hozon signed an agreement with Thailand's Bangchan General Assembly this week to start production of its NETA V model, expected in 2024, Thai government spokesperson Tipanan Sirichana said in a statement. The EV maker launched its NETA V model in the Thai market last year and planned to start offering its NETA U and NETA S models in the near future, Tipanan said. (TSLA.O)Last month, a Thai official said China's Changan Auto (000625.SZ) would invest $285 million in a facility in Thailand. It has set a target that 30% of domestic auto production be EVs by 2030.

☆ China auto sales growth slows in Sept as signs of softening demand emerge
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

China's overall auto sales growth also slowed compared to the previous two months, growing 25.7% in September to 2.61 million vehicles. The market is overall relatively weak," said Cui Dongshu, secretary general of the China Passenger Car Association (CPCA). CPCA, which focuses on retail sales of cars, said earlier on Tuesday that China's passenger car sales in September rose 21.2% from a year earlier to 1.95 million. CAAM, which tracks broader auto sales including passenger vehicles, buses and trucks, has said it hopes the government will extend those incentives next year. In September, China's vehicle exports increased 73.9% from a year ago, CAAM said and EVs accounted for one-sixth of them.

☆ Betting on flexibility, China's Nio will only rent cars in new EU markets
▼ + stars: | 2022-10-07 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

Chinese Nio electric car is seen at Nio's first European plant and power swap station in Biatorbagy, Hungary, September 16, 2022. Prices range from around 50,000-70,000 euros ($49,000-$69,000), depending on the car's range and whether customers buy or rent the battery. Nio will stick to direct sales in existing markets in part due to less attractive taxation on subscription models in Norway and restrictions around licence plates in China, Li said. "The advantage of our business separating the car from the battery is that we may reach economies of scale for the batteries faster than the cars," Li said. "In the long-run we believe any top company in the automotive industry will soon have in-house battery production," Li said.

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