Neta Auto achieved overseas sales of nearly 30,000 vehicles in 2024, with its sales channels expanding to 184 across major global markets, including Southeast Asia and Central and South America, the company announced yesterday.
The Chinese electric vehicle (EV) manufacturer recently hosted its second overseas dealer conference, which included participation from investors and dealers representing over 40 countries, according to the announcement.
Looking ahead to 2025, Neta plans to intensify its focus on international markets, targeting a doubling of its overseas sales. The company is committed to enhancing brand recognition, improving user satisfaction, and winning over international consumers through strategies like localized team management and production.
The Neta X, which entered international markets in 2024, is currently available in nearly 10 countries and has achieved notable success. It secured the top position in monthly insurance registrations for pure electric SUVs in Thailand for two consecutive months, according to Neta.
To meet the growing demand in international markets, Neta’s manufacturing plant in Nanning, Guangxi province, is producing models like the Neta Aya and Neta X, the company stated.
Neta’s “deepen ASEAN” strategy appears to be yielding strong results. The 17,687 cars sold overseas represent a remarkable 154% year-on-year increase, comprising both exported and locally produced vehicles.
Currently, Neta operates two factories in Thailand and Indonesia, with annual production capacities of 20,000 and 27,000 units, respectively. Its models, the Neta V and Neta V-II, are available in both the Thai and Indonesian markets. Furthermore, the company is constructing two additional factories in Malaysia and Indonesia, signaling its commitment to further expansion in the region.
According to data from AUTOLIFETHAILAND, Neta sold 3,600 vehicles in Thailand between January and May 2024. This performance positioned the company as the second-best-selling NEV brand in the Thai market, trailing only BYD.
Despite its recent successes, Neta has faced challenges, including financial difficulties and mass layoffs in November last year.
On November 14, 2024, local media outlet Yicai reported that Guangxi’s Nanning Industrial Investment Group had formed a strategic partnership with Hozon Auto, Neta’s parent company, to provide supply chain financial support. This collaboration aims to assist Neta with the procurement of raw materials, production, logistics, and the export of KD (knocked-down) kits from its Nanning production facility.
Neta set an ambitious global sales target of 300,000 units for 2024, with 100,000 units expected to come from overseas markets. However, as of the first half of the year, the company has achieved less than 20% of its annual overseas sales goal. Now 2025 will be crucial in determining whether Neta can reach its ambitious objectives.
Additionally, the partnership will support the production and delivery of Neta’s overseas models, facilitate international market expansion, and ensure the stability of its global supply chain, the report added.
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