The locally produced Neta V-II is powered by lithium iron phosphate (LFP) batteries from Chinese battery maker Gotion High-tech, with 44 percent of the components of the pack produced in Indonesia.
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Neta has already started production at its factory in Thailand and is building its third overseas plant in Malaysia.
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Neta's plant in Malaysia is scheduled to start production in 2025. Its plant in Thailand is already in production, and another plant in Indonesia will start production in the second quarter.
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Neta's Thailand plant has begun production of the right-hand drive version of the Neta V-II and will be the main manufacturing base for Neta's right-hand drive EVs.
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Neta plans to expand its global network coverage to 50 countries and reach 500 overseas sales and service outlets by 2024.
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Neta aims to transform itself into a global high-tech technology company and reach one million sales in global markets by 2026.
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Neta began accepting reservations for three models from Indonesian customers during a local auto show, and their official sales will begin in the fourth quarter.
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Neta is actively preparing for entry into the European market and will release a heavyweight global model, it said.
(Image credit: Neta)
Neta Auto, the electric vehicle (EV) brand of Hozon Auto, is sending a new shipment of thousands of EVs to overseas markets for the second time in three months.
A total of 4,000 Neta EVs are being sent abroad, the latest new batch after 3,600 vehicles were sent to overseas markets in March, the company said yesterday in a WeChat post.
Neta did not mention which countries the vehicles will be sent to, although it's possible they will still be in Southeast Asia. A total of 3,600 of the compact SUV Neta V vehicles were sent to Thailand on March 21.
Thailand is Neta's home base for expanding into the ASEAN market, and the Neta V is trusted and loved by local consumers, Neta said yesterday.
From January to April, Neta V ranked second in Thailand with a 16.5 percent share of all-electric vehicle license plate registrations, Neta said, citing data from Thai website AutoLife.
Neta is now actively preparing for its entry into the European market and will participate in the Munich auto show in Germany later this year, and the Neta GT sports car will be launched in overseas markets in the near future, it said.
Neta will also release a heavyweight global model that will accelerate bringing high-quality electric smart cars within reach, it said, without giving further details.
Neta has been seen as a budget EV maker since its inception in October 2014, as its vehicles are priced primarily to target the lower end of the market. The company is trying to create a higher-end image with its flagship sedan, the Neta S, and its sports car, the Neta GT.
As the EV market in China becomes more competitive, local car companies including Neta and NIO (NYSE: NIO) are starting to make more efforts to expand overseas.
Unlike NIO, which is targeting the more developed European market, Neta is focusing its initial efforts on overseas expansion in Southeast Asia.
On August 24, 2022, the right-hand drive version of the Neta V was launched in Thailand as its first model to be offered there.
On March 10, 2023 Neta laid the foundation stone for its factory in Bangkok, Thailand, which will be its main manufacturing base for building right-hand drive electric vehicles for export to ASEAN.
On May 11, Neta announced its entry into Malaysia, officially launching the right-hand drive version of the Neta V for local consumers at the largest auto show in the region.
Neta delivered 13,029 units in May, up 18.35 percent from 13,029 units in the same month last year and up 17.59 percent from 11,080 units in April, according to data released by the company on June 1.
From January to May this year, Neta delivered 50,285 vehicles, up 0.62 percent from 49,974 in the same period last year, data monitored by CnEVPost showed.
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