Neta enters Brazilian market, will launch three models in Q3 2024

On July 20, Hozon Auto‘s Neta brand announced that its first South American subsidiary officially settled in Paulista Avenue, Sao Paulo, Brazil, on July 16, and the first three models will be launched in Brazil in the third quarter.

This is the third global market that Neta has entered after Southeast Asia and Africa. In recent years, numerous Chinese automotive brands have entered Brazil, including BYD, Great Wall Motor (GWM), and Chery.

Furthermore, just last month, Neta’s first flagship store in Africa opened in Nairobi, the capital of Kenya. Additionally, Neta has continued to focus on the Southeast Asian market this year and has established three overseas factories in Thailand, Indonesia, and Malaysia:

• April: Neta’s Indonesian eco-smart factory started production.
• March 27: Neta signed an agreement with its partners to jointly manufacture and sell the Neta V-II and Neta X in Sri Lanka, also Neta’s first localized assembly project in South Asia.
• March: Neta’s eco-smart factory in Thailand started large-scale production, with an estimated annual production capacity of 30,000 vehicles.
• January: Neta signed a contract with its Malaysian partner to establish its third overseas factory in Malaysia.

According to data from the China Association of Automobile Manufacturers (CAAM), China’s exports of new energy vehicles reached 519,000 vehicles from January to May 2024, a year-on-year increase of 13.7%. Specifically, Neta ranked fifth in export volume with 16,400 vehicles. In addition, Neta’s overseas sales from January to June 2024 totaled 17,687 vehicles, a year-on-year increase of 154%. ​​​

At Neta’s new product launch event in October 2023, it announced its overseas plan to expand into 30 countries and regions, with more than 100 sales channels. By 2024, it aims to achieve overseas sales of 100,000 vehicles, covering 50 countries, and building 500 overseas sales and service outlets; by 2026, it targets to achieve a global market sales volume of 1 million vehicles, of which domestic sales account for 65% and overseas sales account for 35%.

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Source: Neta Weibo