The Sales of NETA in Thailand Increased by 12.1% in the First Quarter of 2024

The Chinese electric car brand NETA is thriving in Thailand, with pre-orders reaching 1,618 units at the 2024 Bangkok Motor Show. Mr. Chu Gangzhi, the General Manager of NETA Auto (Thailand), revealed NETA's first-quarter performance in Thailand. The number of NETA cars registered exceeded 2,800 units, a 12.1% increase compared to the same period last year (2,500 units), which achieved a market share of 13% in the electric vehicle sector.

"NETA sincerely thanks Thai customers for their trust and support of the NETA brand. The Thai company will accelerate the delivery of NETA V-II to customers as quickly as possible." Mr. Chu Gangzhi, the General Manager of NETA Auto (Thailand), said.

Mr. Chu further emphasized the stability of NETA's international business, stating, "Recently, NETA signed an important cooperation agreement with the Hong Kong government. According to the agreement, the Hong Kong government will provide NETA Auto with a subsidy of 200 million Hong Kong dollars and assist cornerstone round investment of 200 million US dollars. Currently, NETA Auto has set up an overseas center in Hong Kong and is about to establish an overseas intelligent research and development center and a big data center, which will develop localized intelligent new energy vehicles based on overseas user characteristics. It also plans to set up a production factory in Hong Kong to facilitate the linkage between Hong Kong and mainland industries and to promote the rapid development of the new energy-intelligent automobile industry globally. This is to further expand NETA brand's business potential to markets outside China."

For its operations in Thailand in 2024, NETA will operate according to the strategy of "Everything in Thailand, everything for Thailand", which aims to develop Thailand's electric vehicle industry. It is made up of five key strategies: jointly launching domestic production with strategic partners and enhancing the brand image by launching new models with powerful functions and advanced technology, increasing the ratio of Thai team members to more than 85%, and establishing a stronger high-potential dealer network. This includes creating a customer-centric brand.