Hozon Neta makes Thailand first stop for overseas expansion

Novemeber 10th, 2021-EV startup Neta Automobile announced today that it has signed a strategic cooperation framework agreement with Thailand's PTT Public Company Limited to jointly develop the local market.

Neta is the EV brand of Hozon Auto, and this is the first time it has explicitly made Thailand its first stop after announcing its plans to enter the ASEAN new energy vehicle market two months ago.

Neta will work with PTT to build a smart car ecosystem to provide high-quality smart EVs made in China to the people of Thailand and ASEAN, according to a statement.

A right-hand-drive version of the Neta V will be the first available in Thailand, said Zhang Yong, co-founder and CEO of the company, adding that Neta will enter the entire ASEAN new energy vehicle market with Thailand as the centerpiece.

Neta offers three models in China, the Neta V, Neta V Pro and Neta U Pro, with the Neta V priced at RMB 59,900 ($9,390) to 75,900.

PTT President and CEO Auttapol Rerkpiboon said the company's partnership with Neta will help drive the emergence of more affordable as well as competitive electric vehicles in the Thai market.

On September 10, Neta announced it would enter the ASEAN new energy vehicle market to compete in the industry worldwide.

The electric car brand backed by Qihoo 360, China's largest cybersecurity company, unveiled a right-hand-drive version of the Neta V for overseas markets.

The Neta S model, which represents Neta's exploration of intelligence, will also enter the European market when it goes on sale in 2022 to accelerate the company's globalization strategy process, it said.

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