The locally produced Neta V-II is powered by lithium iron phosphate (LFP) batteries from Chinese battery maker Gotion High-tech, with 44 percent of the components of the pack produced in Indonesia.

Neta Auto, a subsidiary of Chinese electric vehicle (EV) firm Hozon Auto, has begun mass production of its vehicles at an assembly plant in Indonesia, as it ramps up its efforts in the international market.

On May 31, Indonesian EV maker PT Neta Auto officially started localized production of Neta vehicles on a CKD (completely knocked down) basis, the Chinese new energy vehicle (NEV) maker announced in a statement yesterday.

Neta did not mention more information about PT Neta Auto, and its Indonesia website shows that PT Neta Auto is a car dealer in Indonesia.

PT Handal Indonesia Motor (HIM) in Bekasi, West Java, did the initial assembly of Neta's latest model, the Neta V-II, Neta said.

The locally produced Neta V-II is powered by lithium iron phosphate (LFP) batteries from Chinese battery maker Gotion High-tech (SHE: 002074), a battery pack that has 44 percent of its components produced in Indonesia, according to Neta.

Neta hopes the Indonesian plant will meet the long-term demand for EVs in the local market and further serve as a production base to support the export of Neta's vehicles to other countries, said Kong Fanlong, the company's co-founder and co-president.

Neta is one of the Chinese NEV makers actively expanding into overseas markets, with its plant in Thailand having gone into production on November 30 last year and is building its third overseas plant in Malaysia.

On July 26, 2023, Neta signed a cooperation agreement with Indonesian companion PT Handal Indonesia Motor. Neta received its first equipment for its plant in Indonesia in March this year.

In 2023, Neta's overseas sales surpassed 20,000 units, up 567 percent year-on-year, the company previously said.

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

The company delivered 10,113 vehicles in May, down 22.38 percent year-on-year but up 12.15 percent from April, according to data it released on June 1.

In the January-May period, Neta delivered 43,564 vehicles, down 13.37 percent year-on-year.

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