NETA Announces EV Production Readiness in Thailand, with

Production of NETA V-II Scheduled in the First Quarter of 2024

Bangkok – November 30, 2023; NETA Auto (Thailand) Limited, in collaboration with Bangchan General Assembly, announce to kick off right-hand-drive electric vehicle assembly in Thailand. The first model to roll off the production line is NETA V-II, following its official distribution plan scheduled in the first quarter of 2024.

Mr. Zhang Yong, co-founder and chairman, NETA Auto, together with NETA Auto (Thailand) Limited management team, and Mr. Wanchai Jungsanguanpornsuk, CEO, Bangchan General Assembly Limited, jointly celebrated NETA V-II rolling off the Bangchan General Assembly Plant at Bangchan Industrial Estate, Bangkok, on November 30, 2023.

NETA EV assembly plant in Thailand, in collaboration with Bangchan General Assembly Limited, is NETA's first EV manufacturing facility outside China. This manufacturing plant is strategically located to serve as a production hub for right-hand-drive EVs for the ASEAN market. It will enhance NETA's EV manufacturing capabilities, with an annual production capacity of 20,000 units.

Mr. Zhang Yong, co-founder, and chairman of NETA Auto, said, “NETA is committed to accelerating electric vehicles accessibility and delivering innovative and intelligent EV technology for all. NETA has been introducing innovative electric vehicles that everyone can own and has been delivering over 350,000 electric vehicles to our customers around the world. In Thailand, NETA’s EVs has rapidly gained popularity among Thai consumers, we have been delivering more than 10,000 units of fully electric NETA V model in just 10 months. NETA V production in Thailand will mark another significant milestone in NETA's global expansion plan, enabling us to produce and deliver electric vehicles with cutting-edge technology to effectively meet the needs of the EV market in Thailand and the ASEAN region.”

NETA provides a wide range of six electric vehicle models that cater to various market demands. These include electric city car - NETA V and NETA V-II, electric SUV - NETA U and electric sport car – NETA X, NETA S and NETA GT. NETA is committed to revolutionizing the use of new energy, actively shaping the value chain of the global electric vehicle industry to make pure electric vehicles with cutting-edge technology widely accessible, in line with NETA's vision to become the ‘Popularizer of Smart EV’.