What?
Neta Auto, a Chinese electric vehicle firm, has kicked off mass production at its assembly plant in Indonesia. The locally produced Neta V-II is equipped with lithium iron phosphate batteries from Chinese battery maker Gotion High-tech, with 44% of the battery components manufactured in Indonesia. The Indonesian EV maker PT Neta Auto has initiated localized production of Neta vehicles on a completely knocked down (CKD) basis at its facility in Indonesia.
Why does it matter?
This move signifies Neta’s strategic expansion into international markets, with a specific focus on meeting the rising demand for electric vehicles (EVs) in Indonesia. By establishing a production base in Indonesia, Neta aims to cater to the local EV market needs while also gearing up to export vehicles to other countries. The company’s co-founder and co-president, Kong Fanlong, sees the Indonesian plant as a crucial step towards solidifying Neta’s global presence and ensuring sustainable growth in the EV sector.
How is it going to shape the future?
Neta’s foray into overseas markets, highlighted by previous expansions in Thailand and upcoming ventures in Malaysia, attests to the brand’s commitment to becoming a key player in the global EV landscape. The collaboration with Indonesian companion PT Handal Indonesia Motor and the successful establishment of the Indonesian plant underscore Neta’s forward-looking approach to capitalize on emerging opportunities in the EV industry. With a significant rise in overseas sales in recent years and a robust production outlook, Neta is poised to drive innovation and competitiveness in the evolving realm of electric vehicles.