Neta Car Parent Company Hozon Files for Bankruptcy, Chinese Media Reports

Brickinfo News Agency – Hozon Auto , the Chinese parent company of the electric vehicle (EV) brand Neta, has officially entered bankruptcy proceedings, according to reports from Chinese state media outlet CCTV. This development follows a petition filed by a creditor last month, signaling financial difficulties for the EV manufacturer.

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Reports indicate that several Neta showrooms in Shanghai have already closed, reflecting the company’s challenging situation. Information from a Chinese corporate bankruptcy disclosure platform confirms that a creditor submitted the bankruptcy petition last month, initiating the legal process.

The bankruptcy of Hozon, known by its Neta brand, offers another case study in China’s competitive and rapidly evolving EV market. While Neta previously aimed to establish market share in the affordable EV segment, ongoing financial issues have impacted its operations. The situation surrounding Hozon Auto will be closely monitored due to its potential effects on suppliers, customers, and the broader EV industry in China and globally, particularly in Thailand.