NETA Auto has officially initiated production at its first overseas factory in Thailand. The event was marked by the presence of NETA Auto’s CEO, Zhang Yong, and Wanchai Jungsanguanphonsuk, CEO of Bangchan General Assembly Co., Ltd. This milestone signifies the company’s expansion into the ASEAN market and its commitment to new energy vehicle (NEV) development.
Why It Matters
The establishment of the NETA Thailand Factory is a critical step in NETA Auto’s global strategy. It represents not only the company’s expansion outside China but also its integration into the NEV industry chain in the ASEAN region. This move positions NETA Auto as a significant player in the global energy transformation, focusing on sustainable and intelligent transportation solutions.
Key Points
- Inauguration of the Thai Factory: The NETA Thailand Factory, in collaboration with BGAC, showcases advanced automation and intelligent manufacturing, aligning with lean production principles.
- Global Model Debut: NETA Auto introduced its global models, NETA GT and NETA X, at the Thailand International Motor Expo. These models exhibit unique features like rapid acceleration and intelligent driving.
- Market Penetration: Since entering the Thai market in 2022, NETA has seen remarkable sales, indicating a strong consumer preference for its electric vehicles in Thailand.
- Production Capacity and Expansion Plans: The factory is set to reach an annual production capacity of 20,000 vehicles by the first quarter of 2024. NETA aims to expand its global sales network to 50 countries with 500 overseas sales service outlets by 2024.
Bottom Line
NETA Auto’s new production facility in Thailand marks a significant leap in its international growth and presence in the electric vehicle market. By integrating into the ASEAN region’s industry chain and showcasing innovative models, NETA is poised to play a pivotal role in the global shift towards green mobility. The company’s success in Thailand sets a precedent for its expansion into other international markets, aligning with its vision of global development and sustainable transport solutions.
