The troubled Chinese language automotive maker Neta reportedly obtained 6 billion yuan (818.8 million USD) in investments. Due to the exterior financing, the corporate paid beforehand delayed salaries and resumed manufacturing. In 2025, Neta goals to focus primarily on abroad markets, planning to double its gross sales.
Tales about issues with Neta circulated on-line all through a lot of 2024. In October, Neta reportedly minimize workers’ salaries and didn’t pay September’s salaries. In November, the troubled automaker reportedly halted manufacturing at its Tongxiang manufacturing plant with a manufacturing quantity of 200,000 items yearly. Neta founder and chairman Fang Yunzhou stepped up as CEO, changing Zhang Yong in December 2024.
Neta’s home gross sales quantity seemingly declined in late 2024. It bought solely 237 items in December 2024, down 88.3% year-on-year. In line with China EV DataTracker, Neta bought 61,592 items from January to December 2024, down 40.2% Y-O-Y. Nonetheless, Neta founder and chairman Fang Yunzhou claimed that the gross revenue margin in 2025 will flip constructive and that the corporate will likely be worthwhile in 2026.
Neta acquired large exterior investments
In line with a DoNews report, Neta obtained about 6 billion yuan in investments. One of many firm’s workers mentioned that he had not been knowledgeable about exterior financing. Nonetheless, his earlier salaries have been paid just lately. In line with the supply, state-owned property and the world’s largest battery maker CATL participated within the financing.
We are going to remind you that Neta was the primary firm to signal an settlement with CATL to make use of its Bedrock chassis in January 2023. The Neta L crossover (see specs) grew to become one of many first fashions to equip the CATL’s newest sodium-containing Freevoy battery devoted to plug-in hybrids. So, Neta and CATL have a long-lasting friendship story.
In line with one other Neta worker, the corporate accomplished inside changes to make sure regular operations. The automaker’s predominant objective is to help regular automobile manufacturing and after-sales components provide. At the moment, Neta is terminating its direct-operating shops in China, specializing in the dealership community.
Neta focuses on abroad markets
On January 17, Neta introduced it held the second abroad seller & investor convention. In 2025, the automaker will give attention to abroad markets, aiming to double gross sales. Final 12 months, Neta bought 30,000 items in abroad international locations (with the objective of 100,000 automobiles). So, the present goal is 60,000 vehicles.
Beforehand, Neta shared that within the subsequent two to a few years, half the gross sales to be home and the opposite half within the international market. The corporate is trying to abroad as a approach of escaping the extreme value competitors within the home market. Neta already has over 180 gross sales channels in round 40 international locations of Southeast Asia, and Central and South America.
Nonetheless, it’s value mentioning that Neta was reported to be contemplating chopping 400 jobs at its Thailand plant as its manufacturing slowed, The Nation reported. The present state of affairs across the model’s first abroad plant has but to be revealed.
