Neta plans to expand its presence in Africa to 20 countries in the next two years and build 100 stores there within three years.
Neta Auto, owned by Chinese electric car company Hozon Auto, opened a flagship showroom in Kenya on June 26, marking its entry into the African automotive market.
The store is Neta's first in Africa and marks the first of Chinese new carmakers to enter the African right-hand drive car market, Neta announced yesterday.
Neta made its Neta V compact SUV (sport utility vehicle) debut in Kenya and in the future the Neta Aya, Neta X will also be brought to the local market, it said.
Neta plans to expand its presence in Africa to 20 countries in the next two years and build 100 stores there in three years with the capability to sell more than 20,000 vehicles a year, it said.
Kenya is a gateway to South, Central and East Africa and is a key node in China's Belt and Road Initiative, Neta said.
Neta is one of the Chinese new energy vehicle (NEV) makers actively expanding into overseas markets, having put its plant in Thailand into operation on November 30 last year and is building its third overseas plant in Malaysia.
On May 31, Neta said it started mass production of its vehicles at its assembly plant in Indonesia.
Indonesian electric vehicle maker PT Neta Auto has officially started localized production of Neta vehicles on a CKD (completely knocked down) basis, it said earlier this month.
Neta's overseas sales topped 20,000 units in 2023, up 567 percent year-on-year, the company said earlier.
Neta delivered 127,496 vehicles in 2023, down 16.16 percent year-on-year, according to data compiled by CnEVPost.
The company delivered 10,113 vehicles in May, down 22.38 percent year-on-year but up 12.15 percent from April, according to data it released on June 1.
In the January-May period, Neta delivered 43,564 vehicles, down 13.37 percent year-on-year.
Neta's parent company Hozon has submitted an application to list in Hong Kong, according to a June 26 Hong Kong Stock Exchange filing.
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