NETA Auto Sets Sights on Israeli Market
NETA Auto, a vehicle marque under Chinese firm Hozon Auto, announced on September 28 that it will enter the Israeli market after it signed a strategic cooperation agreement with Blilious Group, Israel’s leading distributor.
This marks a further rapid extension of NETA Auto’s overseas expansion strategy after entering other markets such as Thailand and Nepal, and it is the first time that the NETA U and NETA V vehicle models will enter the Middle Eastern region.
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The market for new energy vehicles in Israel has broad prospects, and in recent years, the country’s government has actively encouraged imports in the sector. According to authorities, starting from 2035, Israel will completely ban the import of gasoline and diesel vehicles. In 2021, the sales volume of Israel’s pure electric vehicles was 10,935, representing a year-on-year increase of 686%, with a pure electric vehicle penetration rate of 3.7%. Its sales volume of pure electric vehicles in 2022 is expected to reach 17,800 vehicles, with a penetration rate of 5.9%. By 2025, the sales volume of pure electric vehicles is expected to be 80,000, with a penetration rate of 30.8%.
Focusing on intelligence and electrification, NETA Auto is charting a unique path of global expansion. In 2022, it accelerated overseas plans. In just over a month, it successively completed the release of its NETA V right-hand drive model in Thailand, the opening of its first direct sales store abroad, and the release of the NETA V right-hand drive model in Nepal. Up until the end of August, overseas orders for NETA Auto had exceeded 5,000 units, while overseas channels have grown to nearly 30.
In August, NETA Auto delivered 16,017 vehicles, ranking first in terms of sales volume among the category of “Chinese new car makers” and achieving year-on-year growth for 26 consecutive months. From January to August this year, it delivered 93,185 units for a year-on-year increase of 176%. As of August 2022, its cumulative delivery volume was 189,162 units.