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The Nezha Automobile factory in Tongxiang, a county-level city of Jiaxing, Zhejiang province. [Photo/tidenews.com.cn]

The Nezha Automobile factory, based in Tongxiang's Economic Development Zone, recently launched its first SUV, the Nezha L, and is gearing up for global expansion with a second assembly plant in Tongxiang starting production next month.

Nezha has reported a significant increase in recent overseas exports, reaching 4,516 vehicles from January to February, and a remarkable 36.7 percent month-on-month sales growth in March, with a total of 400,000 vehicles delivered.

The Tongxiang factory's intelligent production lines are operating at maximum capacity, producing a vehicle every three minutes. Zhang Yong, CEO of Nezha, emphasized the company's focus on scaling up next-generation technology over mass production. With a robust R&D team of nearly 3,000, Nezha ensures efficient large-scale production on their Tongxiang site.

Nezha is also making strides in Thailand, where it has gained over 14,000 users and nearly 20 percent market share in the electric vehicle sector within 19 months.

In addition, the company plans to expand its global sales network to 60 countries and regions, with 300 overseas outlets and five models available to be sold internationally by year's end.

Supporting high-quality development, Nezha's parent company, Hozon New Energy Auto Co Ltd, secured an investment of no less than 50 billion yuan ($6.9 billion). This will fuel further R&D and technological innovation, expanding the smart network R&D center and export scale.

Tongxiang is rapidly evolving into a smart driving city, with over 200 automotive enterprises forming a comprehensive industry ecosystem. The city's annual output value of automobile enterprises above designated size beyond 30 billion yuan in 2023.