EV innovator Hozon Auto’s third production model Nezha V rolls off production line

Shanghai (Gasgoo)- Nezha, the NEV brand owned by Chinese EV startup Hozon Auto, saw its third production model, the Nezha V, rolled off the production line on October 20, according to a posting on Nezha’s WeChat account.

The Nezha V made its debut at the Auto China 2020 kicking off in late September. With dimensions of 4,070mm long, 1,690mm wide and 1,540mm tall and a wheelbase of 2,420mm, the vehicle plays in the league of small-sized SUVs. Powered by a battery pack from CATL, the Nezha V features a range of 401km under the NEDC test cycle.

Nezha V

Among the models of the same level, the Nezha V is the only one that carries vital sign monitoring system, which is able to raise the alarm to the car owner or activate the self-rescue system once it detect any lives being left in the car.

According to the startup, the small-sized BEV model will hit the market in the fourth quarter of 2020. Before the first vehicle came off the production line, a female consumer decisively placed an order after having a test drive in Beijing, which was quite a rare phenomenon in the automotive industry.

HOZON Auto currently owns two production models for sale—the Nezha N01 and the Nezha U. According to the China Insurance Regulatory Commission, the insurance registrations of the two models totaled 6,852 units for the first eight months, making the company ranked fifth among Chinese EV startups.

The company announced in July the beginning of its Series C financing, and said it plans to go public on the science and technology innovation board next year.

HONZON Auto is in all likelihood to raise over 3 billion ($449,323,740) from its Series C round, which overfills its target, according to Zhang Yong, HOZON Auto's president.

He also revealed that the company's gross margin is expected to turn positive due to a substantial sales growth and a low level of operational cost.