Shanghai (ZXZC)- On October 1, Chinese new energy vehicle maker NETA Auto announced that it delivered 10,118 vehicles in September this year. While this marks a slight decline from the 11,005 units sold in August, it also represents a 23.41% year-over-year drop compared to September 2023, when the company delivered 13,211 units.

Photo credit: NETA Auto

Despite the dip in sales, NETA Auto's international expansion strategy continues to make significant strides. On September 10, the company signed an agreement with BBVA Mexico, the Electro Mobility Association (EMA), and several local dealers. BBVA, the second-largest investment banking group in Latin America, will offer flexible and competitive financing options to NETA Auto's Mexican users, further supporting the automaker's entry into the Mexican market.

The agreement marks a milestone for NETA Auto, which plans to launch its flagship models in Mexico in the fourth quarter of 2024. NETA Auto is also expanding rapidly across Central and South America, with operations already established in Brazil, Ecuador, and Costa Rica.

On September 18, NETA Auto further strengthened its presence in Latin America by forging a strategic partnership with BTG Pactual, the largest investment bank in the region, and Brazilian importer Sertrading. This collaboration provides NETA Auto with 1 billion reais (approximately 1.3 billion yuan) in financial support for vehicle imports and the construction of charging infrastructure, bolstering the adoption of NEVs in Brazil.

NETA Auto also made significant progress in Asia. On September 22, the company hosted the delivery ceremony for the first NETA Xs in Hong Kong, China, where founder and Chairman Fang Yunzhu handed over keys to over 40 local owners.

Following the rising demand, NETA Auto is accelerating its network expansion in Hong Kong, having opened its first store in May. In the fourth quarter, NETA Auto plans to add multiple sales locations, including two new sales channels in October, reinforcing its position in the city’s electric vehicle market.

In Indonesia, NETA Auto launched the NETA X mid-sized electric SUV in Jakarta on September 27. Deliveries to the first 500 customers are expected to begin shortly, with all vehicles produced at NETA Auto's eco-smart factory in Indonesia. The company celebrated the rollout of its first locally manufactured NETA X on September 13.

On September 30, NETA Auto began its wholesale operations in Brazil, with a shipment of vehicles leaving the port of Escrito Santo. NETA Auto has already established over 30 sales outlets across Brazil, covering key regions in first-, second-, and third-tier cities. By 2025, NETA Auto expects to double its number of stores in Brazil, continuing its rapid global expansion.