Chinese electric vehicle (EV) maker Hozon Auto’s brand, Neta, is increasing its commitment to the international market by constructing its third overseas factory in Malaysia. On 12 January, a deal was signed between Neta and a Malaysian partner to collaboratively establish the local factory.
A groundbreaking ceremony took place at the Rembau Chembong Industrial Estate in Negeri Sembilan for the new plant, scheduled to commence production in 2025. Neta did not disclose the planned capacity of the facility, according to CnEVPost.
Neta’s first overseas factory in Thailand is already operational, and a plant in Indonesia is under construction. In 2023, the company reported a remarkable 567% year-on-year increase, with overseas sales exceeding 20,000 units.
For 2024, Neta aims to intensify its global expansion, targeting a presence in over 50 countries. The company plans to establish more than 500 overseas channels and introduce at least four global models during the same year.
To achieve its overseas sales targets, Neta intends to expedite factory planning and construction in Southeast Asia, the Middle East, North Africa, Europe, and the Americas. The company adopts an innovative trading and localised manufacturing model for this purpose.
Neta has set ambitious goals to evolve into a global high-tech technology company by 2026, with a target of reaching 1 million sales in global markets.
