Unlike car companies offering mid- to high-end electric vehicles (EVs) such as NIO and XPeng Motors, which target Norway when first entering overseas markets, some other Chinese companies offering more affordable EVs consider Thailand first.
EV startup Neta Automobile announced today that it has signed a strategic cooperation framework agreement with Thailand's PTT Public Company Limited to jointly develop the local market.
(Image credit: Neta)
Neta is the EV brand of Hozon Auto, and this is the first time it has explicitly made Thailand its first stop after announcing its plans to enter the ASEAN new energy vehicle market two months ago.
Neta will work with PTT to build a smart car ecosystem to provide high-quality smart EVs made in China to the people of Thailand and ASEAN, according to a statement.
A right-hand-drive version of the Neta V will be the first available in Thailand, said Zhang Yong, co-founder and CEO of the company, adding that Neta will enter the entire ASEAN new energy vehicle market with Thailand as the centerpiece.
(Image credit: Neta)
Neta offers three models in China, the Neta V, Neta V Pro and Neta U Pro, with the Neta V priced at RMB 59,900 ($9,390) to 75,900.
In comparison, the ES8, the first model offered by NIO in Norway, has a starting price of RMB 468,000 in China.
PTT President and CEO Auttapol Rerkpiboon said the company's partnership with Neta will help drive the emergence of more affordable as well as competitive electric vehicles in the Thai market.
On September 10, Neta announced it would enter the ASEAN new energy vehicle market to compete in the industry worldwide.
The electric car brand backed by Qihoo 360, China's largest cybersecurity company, unveiled a right-hand-drive version of the Neta V for overseas markets.
The model has a range of 401km and is equipped with a 14.6-inch center screen and 12-inch instrument screen.
It supports intelligent features including fixed-speed cruise control, keyless entry and push-buttonless start, according to Neta.
The Neta S model, which represents Neta's exploration of intelligence, will also enter the European market when it goes on sale in 2022 to accelerate the company's globalization strategy process, it said.