HOZON Auto obtains 6 billion yuan worth of credit line from Huaxia Bank’s Shanghai branch

Shanghai (Gasgoo)- HOZON Auto, the owner of the Chinese new energy vehicle ("NEV") brand NETA, signed an agreement a few days ago with Huaxia Bank's Shanghai branch to conduct all-around strategic cooperation in such fields as conventional financing, supply chain finance, investment bank investment business, cross-border business, bond investment, digital finance business, and automobile consumption finance.

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

Photo credit: HOZON Auto

HOZON Auto saw its monthly deliveries hit another record high of 14,037 units in July 2022, skyrocketing 133.5% year on year, while also rising 6.7% month on month. Notably, it was the champion among Chinese NEV startups by the 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. Coming with eight trim levels, the new model is priced from 199,800 yuan to 338,800 yuan ($29,610-$50,210).

The EV maker is improving its product quality by teaming up with big-name tech companies. HOZON Auto announced on August 2 the cooperation with BlackBerry to jointly promote the application of intelligent technologies in vehicle driving, automotive cockpit, and other scenarios. It has selected BlackBerry QNX technology to power the NETA S.