Bangkok - 20 January 2023: NETA Auto (Thailand) Co., Ltd., reported the progress of its operation plans after its official debut in Thailand, along with company business plans for the year 2023, aiming to deliver 10,000 units.

Mr. Bao Zhuangfei, General Manager, NETA Auto (Thailand) Co., Ltd., revealed that “2022 was a challenging year for NETA as we expanded our business outside China for the first time and marked our strategic international debut in Thailand. Last year, the performance of NETA in China showed a remarkable growth of 118% in electric vehicle sales, with a total delivery of 152,073 units, making NETA to be the first Chinese startup EV company to sell over 150,000 vehicles annually.”

In terms of NETA's operations in Thailand, the NETA brand has rapidly gained popularity and acceptance among Thai consumers. I would like to express my gratitude to all stakeholders, including the government and private sectors, for their valuable support in NETA's operations in Thailand, as well as Thai customers’ trust in our products.

For 2023, we are confident that the electric vehicle market in Thailand will grow by over 100% due to government support measures and the increasing vehicle model availabilities. This includes easier access to charging stations, which are becoming more widespread. Moreover, the total cost of ownership for electric vehicles is more appealing than conventional vehicles in the market. We estimate the overall electric vehicle sales to be around 25,000 to 30,000 units, and NETA aims to deliver 10,000 electric vehicles to Thai customers. We will continue to progress in various areas, including introducing new products that align with market demands, expanding product diversity, and providing comprehensive distribution channels to deliver exhilarating driving experience as we strive to provide Thai people with access to the latest innovations and technologies in electric vehicles. Additionally, we will provide continuous support and collaboration with public and private organizations to accelerate the thriving electric vehicle ecosystem in Thailand as we aim to drive Thailand to become the electric vehicle production hub in the ASEAN region,” concluded Mr. Bao Zhuangfei.

NETA’s 2023 Full Year Results
Signing an Agreement for Excise Department's EV Incentive Program
NETA is committed to participating the government's electric vehicle support measures to ensure that Thai consumers benefit the most from these initiatives. We have collaborated with Bangchan General Assembly Company Limited (BGAC) that has extensive experience in assembling quality vehicles for various brands, for more than 50 years. We also signed an agreement for Excise Department's EV Incentive Program and make progress to start electric vehicle assembly at the Bangchan Assembly Plant, Bangchan Industrial Estate, Khan Na Yao District, Bangkok, to meet the growing demand for electric vehicles in the country. NETA vehicle production is expected to commence within 2024.

Introducing the ‘NETA V’ Touchable Smart EV, which is priced at 549,000 baht*.
In 2022, NETA officially marked its global debut in Thailand and introduced its first vehicle model ‘NETA V’ - 100% Electric Vehicle City Car - which is priced at 549,000 baht*. We would like to express our gratitude to Thai customers for their trust and generous support towards the NETA brand, especially the NETA V - Touchable Smart EV – which continue to see growth in bookings. However, we sincerely apologize for the delayed delivery of NETA V. In the past year, NETA was able to deliver the NETA V to 989 customers in Thailand. Now we are fully aware of the customers' growing demand for electric vehicles and continue to focus our efforts on delivering 100% electrified vehicles to all customers as soon as possible.

Delivering an Unmatched Driving Experience with New Electrified Vehicle Technologies
Currently, NETA has 24 official dealerships in Thailand, covering Bangkok, metropolitan area, surrounding provinces, and major cities in all regions. In addition, NETA has launched NETA SPACE in strategic shopping centers to cater to customers' lifestyles. NETA plans to expand NETA -showroom and service center to 30 locations, providing convenience and accommodating the increasing number of customers. Moreover, the company fucuses on strong after-sales service, ensuring readiness in all aspects including professional training for staff to provide excellent customer care, preparing spare parts to promptly meet customer demands, providing guidance on production and basic knowledge of electric vehicle usage, and offering emergency assistance through the 24/7 NETA Call Center.

Strengthening the Development of Electric Vehicles in the ASEAN Region
The ASEAN region is not only crucial to the global automotive industry but also plays a pivotal role in NETA's global operations. The company has been expanding its business to various regions worldwide since the end of the previous year. Through this strategic expansion plan, Thailand - one of the largest automotive production hubs in the world and the largest in ASEAN - which has concrete measures to support EV adoption is positioned as NETA's operation hub for ASEAN. Furthermore, NETA is actively driving its expansion plan into other countries within the ASEAN region. After the official brand launch in Thailand, NETA has expanded its operations to Laos, Myanmar, Bhutan, Nepal and reaching as far as Israel. The company's expansion plan will also encompass the Middle East, Australia, and New Zealand.

NETA's Sales in China Grew 118%
Mr. Bao Zhuangfei underlines NETA's global operations, stating that in 2022, NETA achieved a remarkable growth of 118% in electric vehicle sales compared to 2021 and successfully delivered a total of 152,073 electric vehicles to customers, with 3,456 units being delivered to international markets (outside of China). Currently, NETA has delivered 250,000 electric vehicles to customers. The sales in 2022 accounted for 61% of NETA's total vehicle sales since the start of its business. This achievement is a result of NETA continuous development, including brand trust, product and technological advancements, sales strategies, and distribution channels, as well as the business expansion plan to various regions globally. All of which contributed to how NETA has gained acceptance and trust from consumers worldwide.

In 2022, a Total of 152,073 Electric Vehicles Were Delivered as Follows:
● NETA V: 98,847 units, growing by 99%.
● NETA U: 51,021 units, growing by 155%.
Additionally, a total of 2,205 units of NETA S has been delivered to customers (since the delivery has started in late November 2022)

NETA will actively involve in the new energy transformation and help develop the value chain in the global electric vehicle industry. Enabling everyone to have access to 100% electric vehicles that are equipped with cutting-edge technology
in line with NETA's vision to become the “Popularizer of Smart EV”.