Shanghai (ZXZC)- AVNET, a leading global technology distributor and solutions provider, and NETA Auto, one of Chinese leading new energy vehicle (NEV) startups, recently signed a strategic cooperation framework agreement in Shanghai, according to a press release from AVNET.

According to the agreement, both parties will leverage their respective core strengths to deepen and elevate the collaboration in the field of NEVs, forming a long-term, stable, win-win strategic partnership.

Photo credit: AVNET

The recent collaboration between NETA Auto and AVNET aims to capitalize on AVNET's existing resource advantages, such as a diverse portfolio of agency brands and product categories, excellent technical support, professional design services, and world-class end-to-end supply chain services. These resources will provide stronger support for NETA Auto's R&D, production, and supply chain management.

As NEV companies intensify their focus on the components industry chain, the trend towards in-house R&D and self-production becomes inevitable. To ensure the supply of core components, NETA Auto has also adopted a vertical integrated supply chain model. The new automaker has established its own component procurement company, dedicated to the purchase of materials for its self-research projects. Based on this foundation, NETA Auto can not only accelerate the development of core technologies but also enhance the product competitiveness, brand competitiveness, and production efficiency of its vehicle models.

AVNET is a leading global technology distributor and solutions provider that has been committed to deepening its presence in the Chinese automotive market and continuously stepping up its collaboration with local automakers. It has been engaged with NETA Auto since several years ago and initiated close technical cooperation during the early stage of solution design. AVNET's service network covers several Tier 1 partners of NETA Auto. By providing technical support and supply chain services, AVNET has assisted and facilitated NETA Auto's technological innovation, product iteration and upgrade, cost reduction and efficiency improvement, and timely vehicle delivery.

Up to now, AVNET has engaged in deep cooperation with NETA Auto in domains such as intelligent driving, intelligent cockpit, intelligent gateway, electric propulsion, and next-generation supercomputing platforms.

In 2022, NETA Auto was among the top 10 Chinese domestic passenger vehicle brands for the first time by annual deliveries, and it was also the first local NEV startup to achieve annual sales exceeding 150,000 units.