Nezha Automobile's full-range deliveries in May were 10,113 units, down 22.4% year-on-year. From the beginning of the year to May, total deliveries were 43,564 units, which was only 14.5% of its full-year sales target of 300,000 units. Although the Nezha S is the brand's main model, its sales have been mediocre this year, while the Xiaomi SU7, which has a similar market positioning, has achieved significant sales performance, which may have attracted consumers who would otherwise consider buying the Nezha S.
As one of the shareholders of Nezha Automobile, Zhou Hongyi, the founder of 360 Group, interacted with Nezha Automobile many times in the live broadcast, bringing a certain degree of exposure. However, during a visit to the Nezha Automobile Factory in March, he told CEO Daniel Zhang that Nezha's products and marketing strategies were difficult to understand, and the use of English names made consumers feel awkward and difficult to remember. Still, he's bringing more negative emotions than sales conversions.
The current models sold by the Nezha brand include Nezha X, Nezha GT, Nezha S, Nezha AYA and Nezha L Extended Range Version. On May 24, Nezha Automobile signed a ten-year comprehensive strategic cooperation agreement with CATL. According to the agreement, CATL will become Nezha's preferred power battery partner to provide market-competitive products and services. The Nezha L is the first model to be equipped with CATL batteries as standard, and its extended-range version has a charge rate of up to 2.6C and a comprehensive range of 1,300km. The pre-sale price of the EV version starts at CNY 140,000 and is expected to be launched in July.
In addition, Daniel Zhang announced at the 16th China Automotive Blue Book Forum that the new model of Nezha S, Nezha S Hunting Suit, will be released in August and large-scale deliveries will begin in September. The new car will be equipped with LiDAR and Haozhi skateboard chassis technology, and will be available in two power versions: pure electric and plug-in range extender. Regarding the rumors about the brand name change in the market, Daniel Zhang made it clear that Nezha Auto will not change its name, but plans to upgrade and sort out the brand in the second half of the year.