NETA Confirms NETA V Production in Thailand Next Year as Thai Government Continues

to Promote Electric Vehicle Growth

Bangkok - 26 October 2023; NETA confirms to start NETA V production in Thailand early next year as Thai government’s favorable policy has stimulated the electric vehicle market to grow by more than 500% this year. NETA also invites Thai customers to experience latest innovations in various NETA electric vehicle models at the Thailand International Motor Expo later this year.

Mr. Bao Zhuangfei, General Manager, Neta Auto (Thailand) Co., Ltd., explained “The Thai government's measures to promote electric vehicle adoption are the key factor that has stimulated domestic electric vehicle market growth. These measures will encourage Thai consumers to buy electric vehicles while supporting the investment sector to expand product diversity. Meanwhile, the electric vehicle ecosystem in the country can be developed to support the continued growth of the electric vehicle market. Especially, expansion of electric vehicle charging stations nationwide coupled with rapid development of electric vehicle technology that provides driving distance that supports a wide range of lifestyles. As the consumers are aware of positive benefits of electric cars, it helps build confidence among EV users. Therefore, the EV registrations this year soared to 49,997 units (January - September 2023) compared to 9,580 vehicles registered in 2022. NETA targets annual sales in 2023 to reach 13,000 units, representing 20% market share from the overall industry that is expected to reach more than 60,000 units.”

Mr. Bao also shared the progress of setting up NETA electric car manufacturing plant in Thailand to support EV market growth in Thailand and ASEAN. He stated that more than 80% of the construction plan has already been completed, such as building infrastructure, manufacturing machinery and workforce. In addition, key EV production parts, especially batteries, have been certified and approved by relevant government agencies. Therefore, NETA will be able to roll out NETA electric vehicle production in Thailand by early 2024, starting from the NETA V model. 

“NETA's electric vehicle assembly plant in Thailand is a key starting point for NETA's international expansion plan. It will lay a solid foundation and build on the strategic development of related functions in the global expansion strategy. This assembly plant will serve as the key investment to build a modern EV assembly hub to support growing demand in the ASEAN region. It will also help develop personnel competencies for sustainable development and strengthen Thailand's electric vehicle ecosystem while moving towards key vehicle manufacturing hub in the world,” added Mr. Bao Zhuangfei. 

Mr. Bao Zhuangfei also shared electric vehicle business environment during the last quarter of the year. Market demand will remain strong as the government measures are coming to an end and the Thailand International Motor Expo is approaching, Electric vehicle manufacturers are offering various promotional privileges to drive consumer decision-making. Therefore, Customers who intend to buy a NETA V will enjoy exclusive offers, such as attractive selling price of 549,000 Thai Baht, vehicle accessories, additional discount worth 50,000-baht, as well as NETA WALLBOX charger that comes with free installation. Additionally, NETA V also comes with a factory warranty of 5 years or 150,000 kilometers and a motor and battery warranty of 8 years or 180,000 kilometers, including free labor and spare parts for scheduled maintenance for 1 year or 10,000 kilometers. 

NETA GT, Sport Coupe Electric Vehicle

NETA will display a wide range of electric vehicle models at the Thailand International Motor Expo, allowing Thai customers to experience NETA's latest electric vehicle innovations. Highlight includes NETA GT, a Sport Coupe electric vehicle that was officially launched in China in the middle of last year. Customers who are interested in EV technology can visit the NETA booth at the Motor Expo later this month.