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China’s Zotye Auto to roll out 10 plus NEV models by 2020

Molly From Gasgoo| May 06 , 2019 13:42 BJT

Shanghai (Gasgoo)- Zotye Auto, a China-based privately-owned automaker, plans to roll out over 10 NEV models by 2020 as part of its newly-launched NEV strategy targeting the next fifteen years, according to a press release from the carmaker. 

Zotye Auto NEV strategy, Zotye Auto 2018 annual profit, China automotive news

Taking the Auto Shanghai 2019 as the starting point, Zotye Auto is trying to form a single “E” series by integrating products under the existing Series Cloud, E, Z and T. Currently, the Series E contains five NEV models, namely, the EZ500, ET450, E330, ES330 and E200FCV, covering the A00-segment car, A0-segment SUV as well as A-segment all-electric sedan.

Moreover, the automaker determines to strengthen the R&D and localization efforts over core auto parts and key technologies, and independently develop fuel cells to enhance vehicles’ range, reliability and comfortability for consumers.

Last year, Zotye Auto’s full-year R&D expenses jumped 21.15% year on year to RMB712 million, according to the company’s annual report. 

Based on the ZFA architecture, the automaker aims to let over 80% of auto parts pervasively used in models relying on the same platform and acquire the ability to prepare 4 models, research 4 models and send 4 models into the market within a year. 

In 2018, Zotye Auto saw its full-year operating income drop 29.03% over the year-ago period to RMB14.764 billion. Meanwhile, the annual net profit attributable to shareholders slumped 36.34% to RMB799.887 million. The net profit excluding non-recurring gains and losses attributable to shareholders of listed company even nosedived 212.41% year on year to –RMB1.24 billion. 

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