Neta has started production at its plant in Thailand and is building a new plant in Malaysia.
Neta Auto, a subsidiary of Chinese electric vehicle (EV) company Hozon Auto, has launched a new model in Malaysia and Thailand as its efforts to explore overseas markets continue.
Neta launched the Neta X compact SUV (sport utility vehicle) in both Kuala Lumpur, Malaysia, and Bangkok, Thailand, on July 25, according to a company press release yesterday.
This marks the acceleration of Neta's globalization strategy in the Southeast Asian market as the company is expanding its product portfolio in overseas markets, it said.
The Neta X is equipped with a driver assistance system and its smart cabin supports multiple languages to cater to local consumer demand, Neta said.
The Neta X, initially launched in China on October 18, 2023, is a facelift of the previously available Neta U-II.
The model is currently offered in five variants in China, with starting prices of RMB 99,800 ($13,770), RMB 104,800, RMB 114,800, RMB 114,800, and RMB 124,800, respectively.
The Neta X measures 4,619 mm in length, 1,860 mm in width and 1,628 mm in height, with a wheelbase of 2,770 mm.
Founded in October 2014, Neta announced its strategy to enter the Thai market in November 2021 and launched the right-hand drive version of the Neta V in August 2022 in the country.
The company saw its Thailand plant go into production on November 30, 2023 with a capacity of 20,000 units per year.
On January 12, Neta signed a deal with a Malaysian partner to jointly build a new plant there. The company also has a plant in Indonesia, which began production on May 31.
In Malaysia, Neta plans to introduce no less than three models in the next two years and accelerate the opening of sales channels, the company said yesterday.
In 2023, Neta's overseas sales topped 20,000 units, up 567 percent year-on-year, the company said earlier.
Neta delivered 10,206 vehicles in June, down 15.88 percent year-on-year, according to figures it announced on July 1.
($1 = RMB 7.2476)
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