🔥Neta May Be Resurrected! After Over 47 Investors Interested
Neta Auto, a Chinese-based electric car manufacturer under Hozon New Energy Automobile Co., Ltd. resumed production at the Tongxiang plant in July 2025, after experiencing a financial crisis to enter the process of revitalization, with over 47 investors applying their interests to join the company's restructuring plan.
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After Neta had to defer payroll and pay only the minimum wage (around 2,000 yuan) since late 2024, the company has recently resumed paying full salaries to employees at the Dongxiang factory, along with starting to provide equipment and funding to dealers who still want to work.
Luo From earlier, Neta's car sales fell from 152,000 vehicles in 2022 to just 64,549 by 2024, while major suppliers such as CATL stopped delivering batteries due to overdue debts, disrupted production lines, and caused the layoffs of around half of the organization's workforce.
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According to court data from March 2025, accounts related to the company have less than 500 yuan left in total, while unpaid debt with suppliers exceeds 6,000 million yuan and cumulative losses of more than 18,300 million yuan, forcing the company to officially enter the reconstruction process in June 2025.
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In June 2025, Neta's nameplate was removed from its Shanghai headquarters after the lease ended, with no new premises officially announced yet.
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But most recently, there have been good signs behind the long negative tide. On July 10, Neta opened up a channel for investors to sign up through Alibaba's property distribution platform to invest in a turnaround plan. Most recently, there have been 47 investors who have already expressed interest, which could be a major hope of a future business turnaround.
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The property presented in the restoration plan is 233,345 square meters of factory space in Dongxiang, car production machinery, self-developed software, trademark "Neta Auto."
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It was also reported that some of Hozon's state-based shareholders began pushing for structural changes and new executives due to concerns about debt exceeding 217% and an overly aggressive expansion strategy in the past.
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Neta's return to full salary payments in July, despite not yet starting mass production of the car, was a "signal" to shareholders and investors that the enterprise still had the potential to recover.
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Opening investors to register through online platforms like Alibaba gives them wider access to new equity groups, both inside and outside China.
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If the revival goes well and there is a new leader trusted by the state, Neta may return as one of the players who re-enter the EV field in the next 2-3 years. 🤩🤩
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Cr: carnewschina
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