Avnet and Nezha Auto sign strategic cooperation agreement to jointly promote the development of new energy vehicle industry

As an innovative technology company, Nezha Auto upholds the values ​​of technological equality and is committed to promoting the global adoption of high-quality smart electric vehicles. In 2022, Nezha Auto ranked among the top ten Chinese independent brand passenger car deliveries for the first time, becoming the first new automaker to achieve annual sales exceeding 150,000 units. Nezha Auto's partnership with Avnet aims to leverage Avnet's existing resources, including its extensive portfolio of distributor brands and product categories, exceptional technical support, professional design services, and world-class end-to-end supply chain services, to provide enhanced support for its R&D, production, and supply chain management.

The shift to new energy is causing profound changes in the automotive industry's supply chain. As new energy vehicle companies accelerate their development of the auto parts supply chain, the trend toward in-house research, development, production, and use of auto parts is inevitable. To ensure the supply of core components, Nezha Auto has adopted a vertically integrated supply chain model. This emerging brand has established its own parts procurement company, specifically responsible for procuring materials for its own research and development projects. This foundation allows Nezha Auto to not only accelerate the development of core technologies, enhancing the product strength, brand competitiveness, and production efficiency of its models, but also achieve supply chain integration to address the industry challenges posed by the "chip shortage and expensive electricity costs."

Avnet , a leading global technology distributor and solutions provider, is committed to continuously deepening its presence in the Chinese automotive market and strengthening its partnerships with local automakers. Avnet began working with Nezha Auto several years ago, engaging in close technical collaboration from the early stages of solution design. Furthermore, Avnet leverages its strengths to deliver exceptional service, with its service network encompassing multiple Tier 1 partners of Nezha Auto.

By providing technical support and supply chain services, Avnet has assisted and facilitated Nezha Auto's technological innovation, product iteration and upgrades, cost reduction and efficiency improvement, and timely vehicle delivery. To date, Avnet has established in-depth collaboration with Nezha Auto in applications such as intelligent driving, intelligent cockpits, smart gateways, electric drives, and next-generation supercomputing platforms . This collaboration is of great significance in promoting the electrification and intelligentization of China's automotive industry.

Mr. Peng Qingfeng, Vice President of Nezha Auto and President of its Components Company, said, "New energy vehicles are a major trend and a hot sector in the automotive industry. As an innovative technology company focused on R&D, manufacturing, and sales, integrating hardware products and software services, Nezha Auto continues to make in-depth investments in the new energy vehicle industry. Avnet, as one of the world's leading end-to-end supply chain service providers, holds a key position in the automotive industry chain. This strategic partnership with Avnet will help Nezha Auto enhance its R&D depth and strengthen its supply chain security, accelerating its global expansion into the new energy vehicle sector. "

Ms. Dong Hua, President of Avnet China, said: "China's new energy vehicles are leading the world. Nezha Auto, as one of the leading players, serves as a bellwether for the R&D and manufacturing of the new energy vehicle industry in China and globally. Nezha Auto also takes a long-term perspective, continuously strengthening the leadership and stability of its supply chain, taking the lead in investing in and deploying supply chain management, and has a clear global development strategy. Avnet China's automotive team is locally based and maintains close communication with Avnet's professional automotive market service teams in other regions of the world. Avnet China is committed to continuing to deeply participate in the transformation and upgrading of the industry, exemplified by Nezha Auto. By providing comprehensive and leading supply chain capabilities, leveraging our strong automotive ecosystem and close relationships with OEMs and numerous Tier 1 manufacturers, we will serve local new energy brands like Nezha and write a new chapter in the development of China's new energy vehicles. "