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Neta is a smart electric vehicle brand under Hozon Auto. Launched in June 2018 and headquartered in Shanghai's Putuo District, the brand was founded by Fang Yunzhou. The name draws from the Chinese mythological figure Nezha—symbolizing a spirit of breaking conventions and daring to reform. The parent company, Hozon Auto Co., Ltd., was founded in October 2014 and is registered in Tongxiang, Zhejiang. Fang Yunzhou co‑founded it alongside SinoHytec, the Zhejiang Tsinghua Changjiang Institute, and other partners. In April 2017, Hozon Auto obtained full vehicle production qualifications from the National Development and Reform Commission, making it one of the earliest new energy vehicle companies in China to secure the "dual qualifications."
Neta Auto's parent company, Hozon Auto, was registered in Tongxiang, Zhejiang, in October 2014. The Neta Auto brand was officially launched in June 2018. That July, the first model—the Neta N01—rolled off the production line. It went on sale at the Guangzhou Auto Show that November, with a subsidized price range of 59,800 to 69,800 RMB, targeting third‑ and fourth‑tier cities and the ride‑hailing market. With an aggressive cost‑performance strategy, it delivered 1,206 units in December 2018 alone, with a full‑year total of 4,803 units. Sales broke 10,000 in 2019.
Backed by strong capital inflows, Neta Auto expanded rapidly, completing multiple financing rounds totaling over 24 billion RMB—drawing in major strategic investors including 360 Group and CATL. In 2022, Neta Auto topped the new‑force sales chart with 152,000 units, outperforming NIO, Li Auto, and XPeng. But as price wars from Tesla and BYD intensified—and with Neta still relying heavily on the low‑end market while struggling to move upmarket—sales fell back to 127,500 units in 2023, plummeted to 64,500 in 2024, and dropped to just 110 units in January 2025. From October 2024, Neta Auto became mired in public controversies over layoffs, salary cuts, and overdue supplier payments. On December 6 of that year, CEO Zhang Yong stepped down—taking an advisory role—with founder Fang Yunzhou taking over as CEO. In the second half of 2025, Hozon Auto faced a bankruptcy reorganization application from creditors; on June 12, 2025, the Jiaxing Intermediate People's Court accepted the case. In March 2026, Fang Yunzhou and Zhang Yong were listed as judgment debtors for failing to comply with court rulings despite having the means to do so.
Neta Auto is built around the value of "technology equity," with products focused on the mainstream consumer market below 300,000 RMB. The lineup covers multiple segments, including subcompact SUVs, compact SUVs, mid‑to‑large sedans, and electric sports cars. As of early 2026, the brand's on‑sale models include:
Neta V: A subcompact pure electric SUV that once held the title of top‑selling new‑force pure electric SUV for eight straight months, targeting city commuters and younger buyers.
Neta U: A compact pure electric SUV that peaked at 3,433 monthly sales in 2023, positioned for family commuter use.
Neta AYA: A pure electric micro SUV designed for entry‑level commuters, complementing the Neta V in the lineup.
Neta X: The first model built on the Yunhe platform, a large five‑seat compact pure electric SUV with the Qualcomm Snapdragon 8155 chip as standard across all trims, emphasizing space and intelligent experience.
Neta S: A mid‑to‑large pure electric / extended‑range sedan. After launching the extended‑range version in 2025, cumulative orders surpassed 10,000, making it a key product in the brand's move upmarket.
Neta GT: The first pure electric two‑door GT sports car for younger buyers, priced between 179,800 and 226,800 RMB, with buyers under 30 accounting for 58.3% of sales.
Neta S Touring: A wagon variant launched in 2025, further expanding the product range.
Neta L: A mid‑size SUV built on the Shanhai platform, available in both extended‑range and pure electric versions. The extended‑range model is priced from 129,900 to 162,900 RMB, with a CLTC combined range of 1,300 km.
Under the brand's plan, Neta will complete a full lineup of eight model series by 2026, covering the mainstream market from A00 to B+ segments.
Neta Auto has always believed that technology is the foundation of its business. In October 2023, the brand laid out its "2026 Plan," with a clear goal: to evolve from a carmaker into a global high‑tech company by 2026. To get there, Neta has been building out its capabilities across platforms, intelligent drive, and autonomous driving.
On the platform side, Neta has developed three core architectures: Shanhai, Haozhi, and Yunhe. Shanhai is a full‑stack self‑developed intelligent safety platform, covering A0 to B‑class models with flexible drive configurations. Version 2.0 pushes range beyond 1,000 km, supports 800V fast charging, and offers up to 1,000 TOPS of compute power. Haozhi 2.0 is made up of five modules—supercomputing, skateboard chassis, electric drive, extended range, and thermal control—strengthening the brand's in‑house R&D and manufacturing muscle. Yunhe, meanwhile, is a global‑ready pure electric platform with 80% parts commonality, built on four pillars: global adaptability, ultra‑efficiency, ultra‑safety, and ultra‑intelligence.
In electrification and smart tech, Neta is a front‑runner in the 800V space. Its Haozhi 800V SiC drive system hits 250 kW peak power and 21,000 rpm, pushing 0‑100 km/h into the three‑second range and adding 200 km of range in just five minutes. The skateboard chassis supports both 400V and 800V, with consumption as low as 11 kWh per 100 km and 500 km of range in 15 minutes. The supercomputing system can scale up to 1,000 TOPS of compute, ready for L4 and L5 autonomous driving. In March 2024, the Haozhi Technology Smart Factory went online, giving Neta full control over vehicle and core tech production—closing the loop on its integrated supply chain.
Since 2022, Neta Auto has accelerated its overseas push, making international markets a strategic priority. The brand has entered markets including Thailand, Indonesia, Jordan, Turkey, and Brazil, establishing a localized production system starting in Southeast Asia. After entering Thailand in August 2022, Neta partnered with local OEM BGAC for production. By 2024, the brand had surged to second place among international brands in Thailand's pure electric new energy market, with an 11.4% share and over 20,000 users in the country.
In February 2023, Neta officially launched in Jordan, and that August, it entered Indonesia—setting up its first Indonesian factory in Jakarta and beginning vehicle production. In the first half of 2024, exports reached 17,700 units, up 154% year‑on‑year.
However, the brand was hit hard by its parent company's domestic operational crisis. Neta failed to meet its 2025 commitment of 19,000 locally produced units in Thailand; as of June 2025, actual output was only about 4,000 units, with a completion rate of under 25%. In January 2026, Thailand's Ministry of Finance announced plans to sue Neta Auto's Thai subsidiary, claiming it had received cumulative electric vehicle purchase subsidies of 2 billion Thai baht (roughly 400 million RMB) since 2022, and intended to freeze its local assets.
Financially, Hozon Auto posted cumulative net losses of 20.898 billion RMB from 2021 to 2023. Despite peak sales in 2022, gross margin remained negative, with the company losing tens of thousands of yuan on every car sold. As of August 2025, creditors had declared total debts of about 26.58 billion RMB; by 2026, cash on hand had dwindled to just 15 million RMB. Founder Fang Yunzhou's equity stake had also been diluted to around 5%. With local state‑owned capital players (Nanning, Yichun, Tongxiang) and other investors having significant stakes, the company has struggled to reach consensus on major strategic decisions.
On the market and product front, Neta Auto leaned heavily on the low‑margin corporate ride‑hailing market early on, locking its brand image into a "cheap commuter car" corner. Efforts to move upmarket with the Neta S and Neta GT fell short of expectations after 2023, while BYD and other competitors continued to eat into the low‑end space, making brand upgrading even harder. Heavy spending on marketing, paired with relatively light R&D investment, also left Neta's product strength and technology iteration lagging behind the leading emerging players.
On June 12, 2025, the Jiaxing Intermediate People's Court accepted the bankruptcy reorganization case of Hozon Auto and appointed Zhejiang Haihao Law Firm, Zhejiang Zicheng Law Firm, and Shanghai Junye Law Firm as joint administrators. On June 30, the administrators released a pre‑recruitment notice for potential investors, publicly seeking restructuring investors. The administrators noted that Neta Auto retains key assets, including "dual qualifications," strong brand recognition, and a relatively short production halt. Fixed assets include 350 mu of industrial land in the Tongxiang Economic Development Zone, Zhejiang. During the restructuring, Neta Auto had been idle since November 2024, but its production lines remain operational, and the company still retains over 400 employees—including management and core technical staff—making it capable of resuming production.
In March 2025, Hozon Auto reached debt‑to‑equity swap agreements with key suppliers, including CATL, Guoxuan High‑Tech, and Beidou Zhilian, totaling over 2 billion RMB, in preparation for restarting operations. In September of the same year, restructuring progress was disclosed at the first creditors' meeting. By early 2026, Shanzi High‑Tech had injected 4.5 billion RMB in funds, securing a 68% controlling stake in Hozon Auto, and production officially resumed. In 2026, Neta Auto plans to pivot its strategic focus from pure electric vehicles toward hybrid and extended‑range models, aiming to find new room for survival in the shifting global automotive landscape.
From new‑force sales champion in 2022 to bankruptcy reorganization in 2026, Neta Auto has lived through the full arc of a rapid rise and an even faster fall. Despite the operational crisis, Hozon Auto still holds valuable assets: its dual production qualifications, cumulative sales of over 400,000 units, and a considerable overseas market presence. With Shanzi High‑Tech now in control and funds injected, Neta is undergoing a systematic overhaul centered on restarting production after the reorganization.
As the brand marks its eighth anniversary, whether Neta can pull through depends on whether it can reshape a clear brand identity, a steady product iteration rhythm, and reliable after‑sales support under a new capital and governance structure. Going forward, Neta Auto will look to combine its global market potential with local restructuring efforts, using its technology base and qualification moat as a foundation—and hoping to rise from the ashes.
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