NETA Starts Mass Production of Electric Vehicles in Thailand for the Thai Market

NETA V-II to be the First Model Rolled Out, Deliveries to Start from April 2024

Bangkok - March 13, 2024: NETA officially kicked off its mass production of fully electric vehicles in Thailand, aiming to deliver electric vehicles with innovative technology to Thai customers, following the official certification and manufacturing operations approval from Thai government agencies. This marks NETA's first EV factory outside China and the first EV manufacturing facility that strategically located in an industrial estate in Bangkok. The first model to be built in Thailand, NETA V-II, will be ready for delivery to Thai customers from April 2024.Mr. Shu Gangzhi, General Manager, Neta Auto (Thailand) Co., Ltd., said that, “Today, the company officially kicked of the mass production of electric vehicles in Thailand. We will now begin the production of the NETA V-II, which is set to be officially launched at the upcoming Motor Show. The first batch of NETA V-II produced from the Thai factory will be delivered to Thai customers from April 2024 onwards.”

“The Thai government's initiatives to promote EV adoption have significantly contributed to the rapid growth of the EV market in the country. This not only makes it easier for Thai consumers to own an EV but also supports investment opportunities, resulting in greater choices of products. The development of Thailand's EV infrastructure is continuously evolving to accommodate the market's growth. NETA is committed to supporting Thailand's government policies and is delighted to be part of the Thailand's EV ecosystem development. This approval and certification mark another significant milestone for NETA and will greatly impact our global business operations. NETA is now ready to introduce high-quality electric vehicles with advanced technology and smart safety features at an accessible price that are produced from our manufacturing plant in Thailand for Thai consumers,” stated Mr. Shu Gangzhi.

NETA's EV manufacturing plant in Thailand is a collaboration between NETA and Bangchan General Assembly Co., Ltd. This is NETA's first 100% EV production facility outside of China and the first EV manufacturing plant situated in the “Phra Nakhon Free Zone” at the Bangchan Industrial Estate in Bangkok. This facility marks a crucial starting point for NETA's global business expansion plans, which is not just establishing a world-class EV manufacturing plant to support the growing ASEAN market demand. This development will also help develop all stakeholders and strengthen Thailand's EV infrastructure to become a leading global automobile manufacturer. This facility will significantly enhance NETA's EV manufacturing capabilities, enabling rapid delivery of modern electric vehicles with innovative features to meet the ever-changing demand in Thailand's electric vehicle market.

In addition to establishing the manufacturing plant to support the growth of the electric vehicle industry, NETA plans to diversify its product lineup by introducing new fully electric models equipped with cutting-edge technology, with at least one new model each year. Furthermore, NETA plans to expand showrooms and service centers nationwide to enhance customer satisfaction and accommodate the expanding customer base. Aligning with NETA’s mission to elevate the brand image to the next level, while emphasizing customer engagement through exclusive activities that will be tailored for NETA customers.