Neta's plant in Malaysia is scheduled to start production in 2025. Its plant in Thailand is already in production, and another plant in Indonesia will start production in the second quarter.

In 2023, Neta's overseas sales topped 20,000 units, a 567 percent increase year-on-year, according to the company.

Neta plans to accelerate its overseas expansion in 2024, bringing its presence to more than 50 countries.

The company aims to see the number of overseas channels to cross 500 in 2024 and launch at least four global models.

Neta also plans to accelerate factory planning and construction in Southeast Asia, Middle East and North Africa, Europe, and the Americas, adopting an innovative trading and localized manufacturing model to achieve overseas sales targets, it said.

Neta aims to transform itself into a global high-tech technology company by 2026 and reach 1 million sales in global markets, it said on October 30.

The company delivered 5,135 vehicles in December, down 34.12 percent year-on-year and down 58.94 percent from November, according to data it released earlier this month.

Neta delivered 127,496 vehicles in 2023, down 16.16 percent year-on-year, according to data compiled by CnEVPost.

Neta's Thailand plant with 20,000 annual capacity goes into production