Neta has begun pre-sales of the Neta Aya and Neta X in Brazil and plans to open more than 10 stores in the country by the first quarter of 2025.
Neta Auto, which is facing operational challenges in its home market of China, is continuing its internationalization efforts.
Neta has begun pre-sales of the Neta Aya and Neta X in Brazil, the Chinese electric vehicle (EV) maker announced today.
As of November 22, Neta has five mall display locations in Brazil, primarily in the states of São Paulo and Rio Grande do Sul.
Neta will add another two mall display sites this month and will add three more in December to expand its local exposure, it said
Neta's Brazilian subsidiary has hosted its first local dealer conference, with 22 representatives from 15 dealer groups, it said.
Neta expects to open more than 10 stores in Brazil by the first quarter of 2025, further expanding market coverage to support large-scale deliveries, it said.
Neta is facing operational challenges in its home market, with local media outlet Cailian saying on November 7 that the company had initiated massive layoffs that could reach up to 70 percent.
Another Neta insider said the percentage of layoffs varied from department to department and was not that high overall, according to the report.
On November 14, a report by another local media outlet, Yicai, cited a Neta source as saying that the company was pushing ahead with major strategic adjustments, significantly compressing and integrating its first- and second-tier departments, and optimizing its management levels.
After this round of restructuring, Neta's organizational and operational efficiency is expected to increase by 50 percent, and operating expenses will be reduced by more than 50 percent, the source said.
Neta would devote more resources to overseas market expansion while focusing on the sustainable operation of its major models at home, aiming to turn its operating cash flow positive by February 2025, according to Yicai.
A commercial entity of the Nanning municipal government of Guangxi would provide Neta with supply chain financial support for raw material procurement, production, logistics, and exports, the Yicai report said.
Yesterday, Neta announced that it opened a new dealership in Indonesia with local partner PT Surya Mobil Abadi, bringing its stores in the country to 11.
Neta plans to complete the establishment of more than 20 dealerships in Indonesia within the year to provide more comprehensive services to customers, it said yesterday.
The company also plans to expand its efforts in Thailand, where it will be preparing for the upcoming local auto show, it said today.
At the Thailand auto show, which opens on November 28, Neta will debut the newest model in its family lineup, the Neta S shooting brake, in Thailand and showcase its Super EREV (extended-range electric vehicle (EREV)) technology, the company said.
Neta starts sales in Indonesia, to deliver 1st locally built EVs soon
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