NETA sales in Thailand grew by 12.1% in the first quarter.

The NETA X is scheduled to be launched in the second quarter

Bangkok, Thailand – April 9, 2024 – NETA, a Chinese electric vehicle (EV) brand announced a 12.1% increase in first-quarter registrations in Thailand, reflecting the brand's growing popularity in the country. This positive momentum was further reinforced by the overwhelming response at the recent Motor Show, where NETA secured 1,618 pre-orders. NETA is poised to introduce the NETA X, a stylish SUV, in the second quarter of this year. Furthermore, the company is also expanding its global presence, with the Hong Kong government recognizing NETA's potential and providing a HK$200 million funding support.

Mr. Shu Gangzhi, General Manager of Neta Auto (Thailand) Co., Ltd., revealed strong performance for NETA in Thailand during the first quarter. NETA achieved registrations exceeding 2,800 vehicles, reflecting a 12.1% growth compared to the same period last year when registrations surpassed 2,500 units. The company also captured a significant 13% market share in the Thai electric vehicle segment. Additionally, NETA secured a total of 1,618 car reservations at the recent Motor Show, further solidifying its success.

NETA V Registration Figures by Transport Statistics Group, Planning Division, Department of Land Transport

" We are grateful to our Thai customers for their continued trust in the NETA brand and their support that has helped us achieve steady growth in the Thai market. We are expediting the delivery of the NETA V-II to our customers. Additionally, we are excited to announce the upcoming launch of the NETA X, a 100% electric compact SUV. “Attractive design, Comfort Cabin & Entertainment, Advanced Intelligence” to cater to the new generation's lifestyle, the NETA X boasts a driving range of up to 500 kilometers. Scheduled for an official launch in Thailand this second quarter, reservations for the NETA X are now open for those interested. “ Said Mr. Shu

Mr. Shu further emphasized NETA's global strength by highlighting the recent signing of a strategic cooperation agreement with the Hong Kong government. Under the agreement, the Hong Kong government will provide NETA with a subsidy of HK$200 million as well as assistance to get investment more than USD$200Million as cornerstone investor, demonstrating the government's commitment to fostering innovation and development in the smart automotive sector. NETA is also receiving additional support from Nanning to expand its brand's business potential beyond China.

For 2024, NETA's operations in Thailand will be guided by the “All in Thailand, All for Thailand” strategy, encompassing five key initiatives: Initiating local production in partnership with strategic allies; Enhancing brand image by introducing new, powerful, and technologically advanced models; Increasing the proportion of Thai team members to over 85%; Strengthening the profitable dealer network as well as Establishing a customer-oriented brand.