Hozon Auto, a Chinese electric car company, announces foray into Myanmar automobile market according to some Chinese media.

Hozon was established in 2014 and signed a strategic cooperation agreement with Grand Sirius Limited (GES) for its foray into Myanmar electric vehicle market according to Gasgoo.

According to the agreement, Hozon Auto will join hands with the Myanmar based company to introduce its international version of NETA U and NETA V services into the local market.

It said Myanmar government had issued policies that give incentives for the development of Myanmar electric vehicle market in coming years.

HOZON Auto invested into the auto markets of countries like Israel, Nepal, Laos, and received 5200 orders of vehicles from oversea markets during September according to sources.