Credit line

HOZON Auto Obtains 6 Billion Yuan Line of Credit from Huaxia Bank Shanghai Branch

Shanghai (Gasgoo)- HOZON Auto, owner of China’s New Energy Vehicle (“NEV”) brand NETA, signed an agreement with Huaxia Bank’s Shanghai branch a few days ago to carry out comprehensive strategic cooperation in areas such as conventional finance, supply chain finance, investment bank investment business, cross-border business, bond investment, digital finance business and automotive consumer finance.

Through the partnership, the Shanghai branch of Huaxia Bank will provide HOZON Auto with a 6 billion yuan ($887.85 million) line of credit to support the automaker in business operations, production and system construction. sales and service.

Photo credit: HOZON Auto

HOZON Auto saw its monthly deliveries hit a new high of 14,037 units in July 2022, soaring 133.5% year-on-year, while also increasing 6.7% month-on-month the other. It was notably the champion among Chinese NEV startups by delivery volume of the month.

On the last day of July, the automaker saw its all-new flagship model, the NETA S, hit the market. With eight trim levels, the new model costs from 199,800 yuan to 338,800 yuan ($29,610 to $50,210).

The electric vehicle maker is improving the quality of its products by partnering with major tech companies. HOZON Auto announced on August 2 the cooperation with BlackBerry to jointly promote the application of intelligent technologies in car driving, car cockpit and other scenarios. He selected BlackBerry QNX technology to power the NETA S.

Gasgoo not only offers timely insights and in-depth insights into the Chinese automotive industry, but also business connection and expansion assistance for suppliers and buyers through multiple channels and methods. Buyer service: [email protected] Seller service: [email protected]

All rights reserved. Do not reproduce, copy and use editorial content without permission. Contact us: [email protected]