Nezha Auto accelerates overseas expansion and deepens its presence in Southeast Asian markets

Nezha Auto stated in its prospectus that the company has laid out overseas markets in advance and has achieved remarkable results in the Southeast Asian market. According to data from the China Association of Automobile Manufacturers, from January to May 2024, Nezha Auto's new energy vehicle exports were 16,458 units, ranking fifth in the export volume of new energy vehicles among train companies and first in the export volume of new energy vehicle companies. Nezha Auto currently operates a complete vehicle factory in Tongxiang, Zhejiang, and has established factories in Thailand, Indonesia and Malaysia. The consulting report shows that the new energy passenger vehicle market in Southeast Asia has great potential, and the total sales of new energy passenger vehicles are expected to grow at an average annual compound growth rate of 47.5% from 2023 to 2028. In 2023, Nezha Auto exported 17,019 vehicles, accounting for 13.7% of total sales, contributing 12% of the company's sales revenue.