Bangkok: September 27, 2022 - Hozon New Energy Automobile Co., Ltd., the manufacturer of NETA all electric car brand from China, partnered with KEO Group,a leading automotive and real estate group, launched the NETA U Pro, a 100% electric SUV in Lao PDR. Auto Asia Co., Ltd., a subsidiary of the KEO Group, will be responsible for NETA brand's operations in Lao PDR.

The official launch of NETA brand in Lao People's Democratic Republic marked another important milestone in NETA's global expansion plan following the positive response from NETA brand introduction in Thailand, Nepal, and Bhutan. The company also plans to expand its business to other ASEAN countries and Europe.

Mr. Daovong Phonekeo, Minister of Energy and Mines of Lao PDR, presided over the launch ceremony and gave a speech during the event emphasizing that NETA has made an impressive progress and helped develop and accelerate various industries growth i.e., automotive industry, transportation, energy, and related industries.

Mr. Wang Chengjie, Assistant President of Hozon New Energy Automobile Co., Ltd., explained that: “NETA's goal is to enable people across the globe to have a 100% electric vehicle equipped with highly advanced technology. Lao PDR is one of strategic markets to develop electric car ecosystem and NETA aims to continuously introduce new electric vehicle models with advanced technology to this market. We are committed to deliver a better experience of using electric vehicle for everyone as well as supporting Laos' automotive industry development to keep up with fast evolving global automotive industry.”

For the past few years, the Lao PDR government has been promoting the new energy vehicle market development by supporting electric vehicle imports through policies such as tax deduction or exemptions as well as developing electric vehicle charging stations to promote electric vehicle deployment. The goal is to increase the number of electric cars on the road to 30% by 2030. Lao PDR is also taking measures to harness its hydropower potential to be ‘Battery of Southeast Asia’. As the country has a hydropower potential of about 26 GW, which is suitable for electric vehicle market development. Therefore, Lao PDR will be one of China's strategic markets for smart electric vehicle industry and NETA will fully support these strategic guidelines.

NETA U is a left-hand drive vehicle that sets a new benchmark of electric vehicles in the same class with smart technology and affordable price, making this model highly popular in Chinese electric vehicle market. In August, Neta U's sales was ranked among top five in the new energy vehicle market with over 5,700 units sold. NETA is confident that NETA U will become popular in Laos just like in China. NETA's popularity in the Southeast Asian market will be a key factor to strengthen NETA's operations to achieve its goal of enabling people around the world to fully benefit from technological advancements and have equal access to innovative technology.