Neta officially extends its footprint in Indonesia and Malaysia with the Neta X
On March 14, Neta CEO Zhang Yong wrote, “The Thai factory has started trial production. In addition to this, one more model will be launched in June: the Neta X.” Neta has made significant progress in localization in the Thai market.
The foundation stone of Nezha (Neta) Auto’s Thailand Eco-Intelligent Factory was officially laid on March 10, 2023, and is located in the Kannayao district of Bangkok, Thailand. As Nezha Auto’s first overseas factory, the plant will have a production capacity of 20,000 units per year upon completion, which is important for boosting Neta’s market share in Thailand and neighboring regions.
Moreover, officials said the Thai eco-intelligent factory will become its main manufacturing base for building right-hand drive electric vehicles (EVs) and exporting to ASEAN.
Neta’s overseas strategy dates back to 2021 when its sales were growing steadily. In November 2021, Nezha signed a strategic cooperation framework agreement with the National Petroleum Corporation of Thailand (NPC), marking the first step in its overseas expansion.
In March 2022, Neta made its overseas debut at the Thailand Motor Show; and in August of the same year, the right-hand drive version of the Neta V went on sale in Thailand. by 2023, the company will be able to expand its market share in Thailand and neighboring regions with its “Going Global” strategy.
In 2023, Nezha Auto accelerated its “Going Overseas” strategy and was ranked No. 1 among new forces in overseas sales with more than 20,000 units sold, a year-on-year increase of 567 percent. 4,516 units of Neta were sold overseas in January to February 2024, ranking No. 1 among new forces in terms of export volume, and No. 5 among new-energy vehicles exported by automakers.
On top of that, by 2024, Neta plans to expand its global sales network to 60 countries and set up 300 overseas sales and service outlets. The Neta Thailand factory is in full swing, with workers assembling the Neta AYA at the local eco-intelligent factory in Bangkok, and the AYA will be launched at the upcoming Thailand Motor Show, making it the second major model to be launched in the Thai market.
In addition to building a plant in Thailand, Neta is also working with Go Auto to build a CKD plant for the Neta V in Malaysia. This project is expected to open in the first quarter of 2025 and will have an annual capacity of up to 50,000 units, making it one of the largest investments by a Chinese auto brand in the region.
