Neta, a Chinese language model, has reportedly achieved a significant milestone in its abroad sales performance for the first half of 2024, with a total of 17,687 vehicles sold globally. As a result of its impressive performance, Neta confidently claims to be China’s leading startup electric vehicle manufacturer among its peers.
The six-month period from January to June has seen a remarkable 154% year-over-year improvement. It’s crucial to note that gross sales aren’t necessarily exports, contrary to what some prominent retailers might suggest. Neta currently operates factories that manufacture automobiles in both Thailand and Indonesia. Factories appear to be assembling cars from imported knockdown kits. Thai manufacturing units initially had a capacity to produce 20,000 vehicle models annually, while their Indonesian counterparts could manufacture 27,000 models in the same timeframe.
According to Neta, they have secured a ranking of second place in Thailand’s new vitality automotive market for the year, trailing only BYD, with a significant market share of nearly 20%. The Neta V-II, a domestically produced model, has largely driven success in the Chinese market, where it’s known as the Neta Aya.
As of June 2024, Neta has sold more than 35,000 units globally, a significant milestone in the brand’s growth trajectory. Notwithstanding this, Neta aims to penetrate more than fifty markets by year-end and is targeting 100,000 units in sales across these markets for the current year.
The preliminary manufacturing process at Neta’s Thai manufacturing facility commenced on November 30, 2023. Although certification from the Thai authorities for full-scale production at the Bangkok facility was only secured in March of this year. Currently, only the Neta V and Neta V-II are available in Thailand’s market, with Indonesia also offering only these two models.
Editor’s word:
In China, Neta has rapidly expanded its mannequin offerings, with newer models like the S, L, and GT generating significant buzz for their impressive features. So far, Neta’s international expansion seems to have focused mainly on its original compact SUV models, the U and V.
The target of $100,000 for 2024 appears daunting, especially considering that, so far, the model has managed only a fifth of that total this year. If Neta expands its offerings to multiple markets and incorporates the latest fashion trends, it may potentially boost international revenue; nonetheless, achieving the target is highly uncertain. In November of last year, Neta showcased its S and GT models in the United Arab Emirates, announcing plans to enter the country’s market. While it remains unclear whether significant sales have indeed started in the UAE.
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