NETA Auto bags 1.3-billion-yuan financial support from Brazil’s BTG Pactual

Shanghai (Gasgoo)- On September 20, NETA Auto announced a strategic partnership with Brazil's largest investment bank, BTG Pactual, and Brazilian import trader Sertrading.

Under this agreement, BTG Pactual and Sertrading will provide NETA Auto with 1 billion Brazilian reals (approximately 1.3 billion yuan) in financial support. This funding will aid NETA's operations in the Brazilian market, focusing on import services and the development of electric vehicle (EV) charging infrastructure, contributing to the expansion of EV adoption in Brazil.

NETA Auto has already established a subsidiary in São Paulo and plans to increase its dealership network to 30 locations by the end of the year. The company is also working on setting up a KD (knock-down) assembly plant and is exploring the possibility of building a local factory to serve the broader Latin American region.

Beyond Brazil, NETA Auto is expanding across Latin America, with initiatives in Mexico, Ecuador, and Costa Rica. On September 10, NETA signed a cooperation agreement with BBVA Mexico, the Mexican Electric Vehicle Association (EMA), and several local dealers. The company plans to launch its heavyweight products in Mexico by the fourth quarter of 2024.

Looking ahead, NETA Auto aims to deepen its presence in Southeast Asia in 2024, while aggressively expanding in Latin America, the Middle East, and Africa. The company also plans to enter the European market at an opportune time, with the goal of having international sales account for 50% of its overall volume. In Southeast Asia, NETA has already deployed three factories in Thailand, Indonesia, and Malaysia, aiming for 50% localized production for its overseas sales.

By 2025, NETA Auto plans to expand into 50 countries and open 500 stores globally, as it transforms from “China’s NETA” into a global automotive player, 'World NETA.'