| | DECEMBER 20239IN FOCUSHOZON EV STARTS OVERSEAS PRODUCTION IN THAILANDNeta Auto has commenced operations at its initial international electric vehicle (EV) manufacturing plant in Thailand, marking an expansion of its footprint in Southeast Asia. The Southeast Asian nation aims to promote the adoption of electric cars as a component of its efforts toward decarbonization. As per the report, the plant, belonging to Neta Auto, a subsidiary of Chinese automaker Hozon New Energy Automobile, is anticipated to produce up to 20,000 vehicles annually, with full-scale manufacturing set to begin in the first quarter of 2024, as stated in a press release from Neta Auto. The initial vehicle produced at the Thai facility is the Neta V-II, an electric subcompact crossover deemed by Neta Auto as a crucial milestone in its global growth strategy. The company aims to fulfill the increasing demand for purely electric cars in Thailand and other ASEAN countries, as highlighted in a separate statement by the company.In August 2022, Neta Auto ventured into the Thai market by introducing the budget-friendly Neta V electric subcompact crossover, assembled in China, marking its inaugural expansion overseas. The initial three quarters of 2023, the Neta V secured the position as Thailand's second-best-selling EV model, with sales reaching 9,294 units. It trailed behind BYD's Atto 3 during this period.
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