Is Chinese EV Maker Neta FINALLY Bankrupt?
Reports from China indicate that troubled EV brand Neta may finally be bankrupt.

Woes continue for troubled Chinese electric vehicle (EV) brand Neta Auto (Neta). Despite repeated denials about reportedly being in dire straits financially, it appears that the writing is on the wall for the brand founded and owned by Shanghai-based parent Hozon Auto (Hozon New Energy).
In a recent report by CarNewsChina citing TMTpost, Neta has commenced bankruptcy reorganisation proceedings effective June 12, 2025. Notably, the firm reportedly reached this stage following dramatic scenes that unfolded at its Shanghai headquarters recently.
One source claims that the brand has commenced bankruptcy reorganisation proceeding this week following dramatic row between employees and its chairman.

The latter saw a series of viral videos circulating Chinese internet showing disgruntled Neta employees confronting Neta chairman Fang Yunzhou for overdue wages. From the same videos, which were recorded by an employee, a Neta staff confirmed the brand entered bankruptcy reorganisation proceedings the following day.
Disgruntled employees demanding outstanding wages is the latest in a series of incidents that continue to shine light into various issues that rose in recent months to plague the brand that was once regarded a ‘rising star’ amongst China’s vastly huge crop of EV and automaking start-ups.
The Neta brand's troubles aren't new. This is but the latest in a series of which spanning since 2024.

Prior to this, Neta faced cash flow disruptions, departing executives, as well as pressure from unpaid suppliers.
On a higher level, Neta has also reportedly been subjected to multiple suits in court since 2024 stemming from broken capital chains and debt defaults. Additionally, it is believed many of the employees seen in the viral video mentioned have not received salaries since Nov last year – the same as when the automaker laid off over 2,900 workers.
Neta X launched sometime last year in Malaysia. This, plus the smaller Neta V (Aya) offering launched prior, are hardly seen on local roads too.

Moreover, despite legal victories, former employees are unable to collect their owed wages given that the company reportedly has insufficient assets to seize. One instance that reportedly happened in March this year when Chinese court orders froze less than RMB500 (approx. RM300) combined in two of Neta Auto’s affiliated company bank accounts.
Another instance of cash-flow issues reportedly came last month when a Shanghai advertising agency filed for bankruptcy review against parent firm Hozon New Energy alleging Neta Auto owed RMB5.31 million (approx. RM3.14 million) for advertising services and failed to fully honor a repayment agreement.
Though the firm responded by stating that this was a unilateral application by a supplier, it also reaffirmed then that it had not initiated bankruptcy proceedings still.


Locally, the brand took a blow to its image when the Neta V (Aya) pictured was awarded an dismal 0-Star score by ASEAN NCAP.



Closer to home, the brand’s image to a massive blow when the ASEAN NCAP awarded its Neta V (Aya) entry-level EV hatch model with a dismal 0-Star score rating – it has performed poorly in crash tests.
An operational restructuring towards a direct-to-consumer (D2C) sales model was announced, but little else has transpired further since.
Written By
Thoriq Azmi
Former DJ turned driver, rider and story-teller. I drive, I ride, and I string words together about it all. [#FuelledByThoriq] IG: https://www.instagram.com/fuelledbythoriq/
JPJ Running Numbers
KUALA LUMPUR
VPK4743
SELANGOR
BSG3504
JOHOR
JYD3802
PULAU PINANG
PRS4447
PERAK
ANX7942
PAHANG
CFC6334
KEDAH
KGB4077
NEGERI SEMBILAN
NEG4742
KOTA KINABALU
SJL7318
KUCHING
QAB6916L
Last updated 17 Jul, 2025
Fuel Price
Petrol
RON 95
RM 2.05
RON 97
RM 3.21
+0.03
RON 100
RM 5.00
VPR
RM 6.23
Diesel
EURO 5 B10
RM 2.91
+0.03
EURO 5 B7
RM 3.11
+0.03
Last updated 17 Jul, 2025
Related News
Neta Faces Potential Bankruptcy as Toyota Acquisition Rumours Snubbed
With the acquisition rumours by Toyota being snubbed, Neta Auto could potentially face bankruptcy amidst its financial crisis.
14-05-2025
Toyota Plans to Acquire Neta Auto to Boost China EV Push – Report
In the bid to accelerate its EV push in China, Toyota reportedly considered the acquisition of the troubling Neta Auto.
13-05-2025
Neta Auto’s Survival Bid: RM1.1 Billion Thai Lifeline
Despite denials, Neta Auto’s Thai credit line underscores its deep financial troubles and desperate bid for survival.
27-03-2025
Neta Faces Financial Crisis, Dismantles R&D Team in China
Neta is facing some financial difficulties in China, where it has reportedly dismantled its whole R&D team amid supplier protests.
19-03-2025
Sales Slump Prompts Job Cuts For Neta Auto In Thailand
Neta Auto financial challenges continue, firm announces job cuts in Thailand.
26-12-2024
Neta Auto Faces Challenging 2024: Salary Cuts, Sales Slump & Production Delays
Neta Auto is reportedly facing a significant sales decline, production delays and employee salary cuts as it attempts to move upmarket.
08-11-2024
New Neta Flagship Store In Ampang Officially Opened
Neta Auto officially opens new Flagship Store in Ampang, hands over first 50 Neta X units to early buyers too.
30-10-2024
Auto China 2024: NETA Adopts Snapdragon Ride Flex, Inks MoU With Intro Synergy
NETA Auto set to be first to adopt the Snapdragon Ride Flex system, inks MoU for CKD plans in Malaysia too.
26-04-2024
Latest News
Tesla Unveils Long-Wheelbase Model Y L for China
Tesla Model Y L, China-exclusive variant adds size, seating and power.
17-07-2025
Kia Carens Clavis EV Unveiled as India-Only Mini EV9
The all-new Kia Carens Clavis EV debuts in India as a compact MPV with EV9-esque design and up to 490 km of range.
16-07-2025
Zeekr 7X Earns 5-Star Euro NCAP Score
Malaysia-bound Zeekr 7X delivers class-leading safety tech and a full five-star Euro NCAP rating.
16-07-2025
Special MG Cyberster Test-Drive Showcase Annonuced
Experience the MG Cyberster first-hand through a special showcase at MG Motor Old Klang Road on July 19 and 20.
15-07-2025
New SoloEra Solo 1C E-Bike Up For Grabs At RM599 Via Pre-Launch Deal
New SoloEra Solo 1C e-bike from Blueshark up for grabs at just RM599 via special pre-launch deal.
15-07-2025
Third-Gen Mercedes-Benz CLA Shooting Brake Bows In with New EV Version
The third-gen Mercedes-Benz CLA Shooting Brake bows in with a new EQ all-electric version and bold new design.
15-07-2025
Huawei-BAIC’s Stelato S9T EV Wagon Unveiled in China
The first official images of the new Stelato S9T EV wagon have been unveiled in China ahead of its fall 2025 debut.
15-07-2025
Report: China Seeks To Ban Single-Pedal Drive Mode In EVs By 2027
China reportedly seeking to ban divisive single-pedal drive mode in EVs by 2027.
14-07-2025
Show More
trending_flat