SHANGHAI, Feb. 29, 2024 /PRNewswire/ -- Despite the slowdown in global economic growth, certain industries are experiencing rapid expansion against the odds. The rapid development of China's new energy vehicle industry is a prime example. These companies are swiftly integrating into the wave of globalization and achieving remarkable results. What's the secret behind their success?
Taking Neta Auto as an example. Neta Auto witnessed an exponential surge in overseas sales last year, and is eyeing higher goals in its global expansion with more products catering to market demands for high-quality smart EVs. Let's explore the secrets behind its globalization achievements, being the top exporter among Chinese startup vehicle companies in 2023.
Strategic Prowess Pioneering Globalization
Neta Auto saw remarkable achievements in 2023. Globally, it delivered 127,496 units, taking the brand's total delivery count to nearly 400,000 units since it was officially launched in 2018. Notably, in overseas markets, Neta Auto sold more than 20,000 units last year, growing 567 percent year-on-year.
Neta Auto began laying out its overseas market as early as 2020, becoming the first among Chinese startup EV enterprises to design right-hand drive models tailored to the demands of the Southeast Asian market. Building upon its successful experience in the Chinese new energy vehicle market, it prioritizes focusing on potential markets with similar consumer preferences but limited consumer choice, fully seizing market breakout opportunities and gaining significant first-mover advantages.
Buoyed by its ASEAN triumph, Neta Auto is venturing into Middle Eastern, Latin American, and African territories. Presently, Neta Auto boasts a network of over 100 overseas sales channels, firmly positioning itself as the apex predator in niche markets like Thailand.
The ambitious overseas expansion of Neta resonates with the global vision of green and sustainable development. In 2023, at the opening of the Bangkok International Auto Show, then-Thai Prime Minister Prayut Chan-o-cha and his delegation visited the Neta booth, focusing on understanding the company's global layout development. In the same year, in August, Neta showcased its various products at the 2023 Indonesia International Auto Show (GIIAS). Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto and his delegation visited the Neta booth for cordial exchanges.
Neta Auto Thailand Factory Commencement Ceremony
Localized Penetration, Firm Commitment to Longevity
The development of globalization relies on deep-rooted local presence. Last November, Neta Auto's first overseas factory, with a designated annual production capacity of 20,000 vehicles, completed construction and was put into operation in Thailand. Expected to commence large-scale production in the first quarter this year, the factory will serve as a key manufacturing hub, particularly for right-hand drive models, targeting the smart and green mobility demands in Thailand and broader overseas markets.
In Indonesia, the Chinese EV startup partnered with PT Handal Indonesia Motor last year, and will jointly start to assemble complete cars from the second quarter of this year. This January, Neta signed a deal with a Malaysian partner to jointly build its local factory. The plant is scheduled to start production in 2025.
In addition to the factory, Neta Auto claimed it will also collaborate with local partners to jointly build complete industrial chains, including supply chains, sales channels, after-sales services, charging facilities, etc., to contribute to the local new energy vehicle industry.
Concurrently, Neta Auto is diligently fortifying its global sales and service network, epitomized by its robust infrastructure in Thailand. The Neta Auto call center stands as a beacon of assistance, offering round-the-clock emergency support, while collaborations with local partners ensure ubiquitous access to charging stations, enhancing the overall user experience.
Product Excellence and Technological Mastery: Cornerstones of Globalization
Neta Auto's meteoric rise can be attributed to its commitment to crafting intelligent, aesthetically pleasing, and high-performance electric vehicles catering to diverse consumer preferences across SUVs, sedans, and sports cars. The future competition of intelligent electric vehicles fundamentally lies in technological prowess. Neta prioritizes user-centric approaches, driving product planning, organizational development, technological innovation, and service construction according to user-oriented thinking.
Neta Auto has a wide range of products, including left- and right-hand drive vehicles, pure EVs, and range-extended models, while meeting European Union standards. It expects to have six to seven models available for sale overseas by the end of this year, and its main products cover most of the mass consumer market.
Neta Auto's products NETA X, NETA S, NETA GT, and NETA AYA
Furthermore, Neta Auto's vertical integration, from research and development to manufacturing of core components, underscores its self-reliance. The HOZI Technology Platform, a marvel of technological innovation, integrates cutting-edge solutions across smart cabin integration, intelligent driving, and new energy systems, solidifying Neta Auto's position as an industry vanguard.
Neta's focus on intelligent development has also received recognition from the scientific community. Academician Ouyang Minggao of the Chinese Academy of Sciences stated, "In recent years, Neta has diligently and rigorously pursued continuous technological innovation, which sincerely earns my admiration for the team's spirit."
The forward-thinking strategic vision, sustained commitment to long-termism in overseas expansion, and robust technological capabilities are partial reasons behind Neta Auto's current globalization achievements. With aspirations to penetrate 60 countries and establish over 300 overseas channels by 2024, the journey ahead is laden with challenges and opportunities.
As one of the significant pioneers in the global new energy industry, Neta's future role in advancing worldwide green mobility, maintaining a leading position amidst China's new energy vehicle expansion overseas, and how it will contribute to the upgrade and reform of the global EV industry will be highly anticipated and closely observed.
