Chinese electric vehicle startup NETA Auto on October 10 launched its U-Ⅱ model, starting from 129,800 yuan ($18,162). The new vehicle features over 15 upgrades, of which include adopting the Qualcomm Snapdragon 8155 chip and Horizon Robotics’ Journey 3 chip.
The model has four versions – 400 Lite, 400, 500 and 600, with price tags of 129,800 yuan, 136,800 yuan, 147,800 yuan, and 159,800 yuan. Meanwhile, NETA announced the launch of two intelligent driving assistance packages that users can select for their U-Ⅱ 400/500/610 versions.
The new vehicle offers a new color palette, including the bold new colors of black, pink and blue, while the interior has been upgraded with a large makeup mirror, a makeup case and a round key.
NETA U-Ⅱ has a Qualcomm Snapdragon 8155 chip and uses Horizon Robotics’ Journey 3 chip. Equipped with 22 high-precision sensors including 5 millimeter-wave radars, 12 ultrasonic radars, 12 megapixel high-sensing cameras, and 4 circumferences cameras, the new car can achieve L2.5 + level intelligent driving assistance. It is equipped with functions like highway driving assistance, forward collision warning, automatic emergency braking, traffic sign recognition, parking and others.
The NETA U-Ⅱ is equipped with dual 12.3-inch levitating intelligent control central screens, and the intelligent console allows multi-screen interaction between instrument, central control, and air conditioning screens. AutoNavi’s customized on-board navigation is also available.
In terms of power, the NETA U-Ⅱ provides cruising ranges under NEDC of 400km, 500km and 610km respectively. The model with a range of 610km is equipped with a 170kW electric motor with a torque of 310 N · m and a 0-100km acceleration time of just under 7 seconds. Other models are equipped with a 120 kW electric motor with a torque of 210 N · m and 0-100 km acceleration time of 9.5 seconds.
In recent months, NETA’s sales has risen rapidly among Chinese EV makers. The company delivered 18,005 vehicles in September, up 134% year on year, marking its 27th consecutive month of year-on-year growth. From January to September, it delivered a total of 111,190 vehicles, up 168% year on year.
NETA’s steady growth in sales has much to do with its relatively affordable price. The price ranges of NETA U and NETA V are both below 200,000 yuan, thus creating a situation of high sales volume but low profit. On the other hand, NETA does not seem to have a distinct brand image like NIO, XPeng and Li Auto.
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According to NETA, the order volume of its NETA S, which targets the high-end market, has exceeded 10,000 units. This may be a new stage for NETA to move from low prices to a balance between price and sales volume.