Neta Auto has kicked off production at its first overseas electric vehicle (EV) plant in Thailand, further expanding its presence in the Southeast Asian country, where the government looks to increase the use of battery-powered cars as part of its decarbonization push, reports Caixin. The facility is expected to have an annual capacity of 20,000 cars with large-scale production scheduled to begin in the first quarter of 2024, according to a press release from Neta Auto, the EV brand of Chinese carmaker Hozon New Energy Automobile.
The first car, which rolled off the production line at the Thai factory on Thursday, is a Neta V-II electric subcompact crossover, which Neta Auto hailed as an “important step” in its global expansion strategy as it aims to produce more pure electric cars to meet growing demand in Thailand and other ASEAN nations, according to a separate company statement.
Neta Auto entered the Thai market in August 2022 selling the budget Neta V electric subcompact crossover assembled in China, marking its first attempt at overseas expansion. In the first three quarters of 2023, the Neta V was Thailand’s second best-selling EV model with sales of 9,294 units, following BYD’s Atto 3, according to data from Autolife Thailand, a local automotive website.