STATEMENT: Neta Auto begins construction of a "factory abroad" after four months of preparations

(Information sent by the signatory company).

STATEMENT: Neta Auto begins construction of a "factory abroad" after four months of preparations

(Information sent by the signatory company)

- Neta Auto starts construction of "overseas factory" after four months of preparations, a milestone of globalization for Chinese automakers

BANGKOK, March 13, 2023 /PRNewswire/ -- The groundbreaking ceremony for the electric vehicle manufacturing plant of Neta Auto (Thailand) Co. Ltd. was held on March 10, which will become a Neta Auto's major manufacturing base for producing and exporting right hand drive electric vehicles for ASEAN. The automaker has also signed a cooperation agreement with Thailand's Bangchan General Assembly Co. Ltd. (BGAC), under which the two parties will jointly build a modern electric vehicle assembly base. They will also partner to upskill staff in sustainability and create an electric vehicle ecosystem in Thailand. These two moves suggest that Neta Auto has entered a new stage of rapid and robust development in ASEAN and a milestone for its globalization development.

Located in Khan Na Yao, Bangkok, the plant is Neta Auto's first overseas factory, and also EV's Chinese start-ups' first plant in Thailand. Comprised of three welding, painting and assembly shops, the facility will feature an optimized plant layout and innovative process technologies based on the concept of lean and smart manufacturing, saving resources and increasing quality and efficiency. The plant will be able to go into production at the end of January 2024 as an international model factory for intelligent manufacturing of new energy vehicles.

Zhang Yong, Co-Founder and CEO of Neta Auto, and Vunchai, Chairman of BGAC, attended the event and witnessed Neta Auto start a new journey towards globalization.

Zhang said, "The Thailand plant will be an important base for the production and export of RHD electric vehicles to ASEAN. As we will start construction of several world-class smart EV manufacturing bases simultaneously, our capacity will be expanded, supporting our development of globalization. We also plan to enter more countries in the Middle East, the European Union and other regions, making Neta Auto a recognized and trusted brand for global consumers."

Vunchai also shared his expectations for the partnership. "With this collaboration, we take a decisive step in sustainable transportation. We also hope to bring opportunities to people and accelerate the development of the EV industry in Thailand by leveraging the partnership."

Neta Auto ranked among the top 20 global manufacturers of new energy passenger vehicles by volume in 2022, ranking first among EV startups by annual sales volume. Neta V, the first model launched by the automaker in Thailand, ranked second by BEV registrations in Thailand. The ceremony showcases China's enhanced intelligent vehicle manufacturing capabilities and the brand power of Neta Auto.

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