NETA Auto breaks ground on third overseas plant

Shanghai (Gasgoo)- On January 12, NETA Auto, a Chinese new energy vehicle maker under HOZON Auto, successfully conducted the groundbreaking ceremony for its third overseas factory in the Rembau Chembong Industrial Zone, Negeri Sembilan, Malaysia, according to a post on NETA Auto's WeChat account.

The automaker revealed that the factory is scheduled to commence operations in 2025. This move solidifies NETA Auto's leading position in the local market and aims to swiftly and efficiently provide high-quality products and services to users in Malaysia and other ASEAN countries.

Since embarking on its overseas journey in 2022, NETA Auto's "Deep Cultivation in ASEAN, Landing in the EU" global development strategy has gained momentum.

Starting with its inaugural venture in Thailand, NETA Auto has rapidly gained ground, achieving nearly a 20% market share in the local pure electric vehicle market in just over a year. In November 2023, NETA Auto's intelligent factory in Thailand began production, marking the official start of large-scale manufacturing planned for the first quarter of 2024. In the same month, NETA Auto entered into a partnership with Indonesian company PT HIM, with plans to commence production in Indonesia through KD (knock-down) assembly starting in the second quarter of 2024.

Expanding its footprint, NETA Auto is also making inroads into the European, Middle Eastern, American, and African markets. Publicly available data reveals that in 2023, NETA Auto's overseas sales surpassed 20,000 units, witnessing a staggering 567% year-on-year growth.

To cater to the increasing demands of consumers worldwide, NETA Auto plans to expand its market coverage to over 60 countries by 2024, with the number of overseas sales and service channels surpassing 500.