"NETA Co-Founder engaged in discussions with the BOI,

aiming for strategic development of Thailand’s EV industry"

Bangkok, May 2, 2567: Mr. Zhang Yong, co-founder, and CEO of NETA Auto, met with Mr. Narit Therdsteerasukdi, Secretary General, the Board of Investment of Thailand (BOI), during his visit to Thailand. During the meeting, the parties discussed in-depth business plans and exchange information regarding NETA Auto’s collaboration and business development in Thailand. On this occasion, the BOI Secretary General officially presented an investment promotion certificate for NETA's Battery Electric Vehicle (BEV) production venture. He also commended NETA's operations in Thailand and encouraged collaboration between NETA, parts manufacturers, and entrepreneurs in Thailand to further promote Thailand's BEV industry development.

As Thailand is a major and high potential automotive industry hub in the ASEAN region, and it is one of the most significant automotive manufacturing bases globally. NETA established NETA AUTO (Thailand) Co., Ltd. as the ASEAN headquarter to strategically expand NETA's business in the ASEAN region. The introduction of the NETA V, a pure electric City Car with the ‘Touchable Smart EV’ concept, along with strategic collaborations with public and private sectors in Thailand, has helped NETA gain rapid consumer acceptance in the country. In 2023, NETA held the second position of overall market share in Thailand's electric vehicle industry and currently has over 15,000 customers nationwide, with showrooms and service centers exceeding 50 locations. In 2024, NETA will continue its strategic expansion plans under “All in Thailand, All for Thailand” strategy, comprising five business priorities: initiating local production, introducing new EV models with advanced technology annually, increasing Thai personnel representation to over 85%, strengthening the distribution network, and focusing on customer-centric initiatives.

NETA is committed to transforming new energy usage and contributing to Thailand's electric vehicle value chain, making fully electric vehicles with cutting-edge technology accessible for everyone. Aligning with NETA's vision to be the “Popularizer of Smart EV”.