Nanning, China--(Newsfile Corp. - September 24, 2024) - The 21st China-ASEAN Expo has officially opened with NETA Auto, a pioneer leading in the development of new energy vehicles, showcasing its full lineup of star products. At the concurrently held China-ASEAN Automotive Industry Cooperation and Development Forum, NETA Auto engaged with government officials, industry experts, and corporate representatives from various countries to jointly promote collaborative development strategies for the automotive industry.

Wilson Sun, Executive Vice President of NETA Auto's Overseas Division, speaking at the Forum

At the Expo, high-ranking officials from ASEAN countries and commercial representatives from across the region visited the NETA Auto booth, highly praising the brand's outstanding performance in the ASEAN market and its strides toward globalization. In the first half of 2024, Thailand's new energy vehicle penetration rate reached 18.2%, with sales up 6.6% year-on-year, demonstrating a strong growth trend. Meanwhile, the penetration rates of new energy vehicles in Indonesia and Malaysia have surged two to three times compared to 2022, highlighting significant potential. NETA Auto is seizing this opportunity by establishing Thailand, Indonesia, and Malaysia as key hubs for production, sales, and service, with substantial investments of resources, capital, and personnel to better serve the entire ASEAN market.

As one of the first companies to design right-hand drive models to meet the demands of the Southeast Asian market, NETA Auto has achieved sales in nine out of the ten ASEAN countries, establishing nearly 80 distribution channels. For instance, in Thailand, one out of every five new energy vehicles is a NETA Auto, making the brand readily accessible to ASEAN users.

NETA Auto Products Capture Attention at the ASEAN Expo

Promoting localized development is also a key initiative for NETA Auto's deep engagement in ASEAN. Currently, the company has established overseas factories in Thailand and Indonesia, which are already in production, while the factory in Malaysia is under construction. The Malaysia smart factory of NETA plans to start production in the first quarter of next year. Subsidiaries have been set up in Thailand, Indonesia, and Malaysia, deeply integrating with the local industrial ecosystem, with over 95% of the staff from local Thailand.

Wilson Sun, Executive Vice President of NETA Auto's overseas division, stated in the forum, "Today, NETA Auto has become the leading Chinese new energy vehicle brand in overseas markets, and the outstanding performance in the ASEAN market has been crucial to this achievement."

In the next one to two years, NETA Auto aims to achieve full coverage across all ASEAN countries, providing high-quality intelligent mobility services for over 600 million people in the region.

At the beginning of another decade of deepening cooperation between China and ASEAN, NETA Auto is committed to taking on the responsibility of being a "chain leader" in promoting the collaborative development of the new energy vehicle industry between the two sides. The company seeks to realize multi-level and comprehensive strategic cooperation in the automotive industry with ASEAN and countries worldwide, working together to build a closer automotive industry community and promote the integration and coexistence of cross-border industrial chains.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224378