Neta Auto Accelerates Into the Oversea Market, with Kenya As Its First Stop in Africa

by philipschirmeist

Neta Auto officially announced that Neta Auto’s first flagship store in Africa opened on June 26th in Nairobi, the capital of Kenya. This is Neta Auto’s first store in Africa and also the first store for a new force in the African right-hand drive market.

Neta Auto started its “first year of going global” as early as 2022. Data shows that in 2023, Neta Auto delivered a total of 127,500 vehicles throughout the year, with over 20,000 units sold in overseas markets, representing a year-on-year growth of 567%, ranking first among new carmakers. Neta Auto aims to sell 300,000 vehicles in 2024, with sales targets of 200,000 units domestically and 100,000 units overseas.

Yesterday, the Neta Auto’s parent company, Hozon New Energy Auto submitted an application for listing to The Stock Exchange of Hong Kong. It plans to be listed on the main board of The Stock Exchange of Hong Kong, with joint sponsors including CMB International Capital Holdings, Morgan Stanley, CITIC Securities, Bank of Communications International and CMB International.

If it successfully goes public, Neta Auto will become the fifth ‘new force in car-making’ to list on The Stock Exchange of Hong Kong after NIO Inc., Li Auto, XPeng Motors and Leapmotor.

SEE ALSO: Hozon New Energy Auto Goes for Hong Kong IPO

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