- Neta launched the Neta X and Neta Aya in Singapore today and secured 52 orders in the morning.
- Neta’s new stores in Singapore will open soon.
Neta Auto made its presence at the Singapore auto show today and announced the official launch of the Neta X and Neta Aya in the city-state.
Neta secured 52 orders at the event this morning, the Chinese electric vehicle (EV) maker announced today.
Neta X and Neta Aya have completed certification to Singapore’s new energy vehicle (NEV) localization standard, and new stores will open soon, it said.
Singapore is a bellwether for the Southeast Asian car market and Neta’s move is another important development in its Southeast Asian market strategy, it said.
Neta is facing operational difficulties in China and carried out massive layoffs in November.
On November 14, local media outlet Yicai reported that Guangxi’s Nanning Industrial Investment Group had entered into a strategic partnership with Neta’s parent company Hozon Auto to provide supply chain financial support.
Neta would devote more resources to overseas market expansion, while focusing on sustainable operations of key models domestically, aiming to turn operating cash flow positive by February 2025, according to the report.
Neta reportedly downsizing directly operated stores, retaining dealer outlets
