Hozon New Energy Automobile Co, the manufacturer of Neta Auto-branded vehicles will be commencing local assembly (CKD) work in Thailand.
According to Neta Auto’s CEO Zhang Yong, Neta Auto will be cooperating with local partner Bangchan General Assembly Co Ltd. The car that are manufactured in Thailand will be both sold in Thailand and exported to other markets within the ASEAN region.
Neta Auto has the backing of battery maker CATL. Neta Auto broke ground in the Khan Na Yao district of Bangkok for their first-ever overseas car plant. Furthermore, production is set to commence in January 2024 with an annual capacity of 20,000 vehicles.
This year alone, Neta Auto aims to sell 10,000 EVs in Thailand, as part of its larger goal of selling 300,000 vehicles this year alone. On top of which, Neta Auto has plans to penetrate the Middle East and European markets in the near future.
Closer to home, the Neta V was launched in Malaysia earlier this month as the country’s most affordable EV, priced from RM 99,800. The first 100 buyers are entitled to a RM 10,000 cash voucher, which brings the final price down to RM 89,800.
Neta’s local distributor, Intro Synergy Sdn Bhd is also looking to introduce the Neta U SUV by Q2 2024 and Neta S sedan by 2025.
Also Read: Neta Malaysia plans to launch 2 more EVs here, including Neta U and Neta S
Source: Neta Auto to build CKD plant in Thailand with 20k vehicles capacity