Chinese EV startup Neta faces mounting troubles as dealers gather at its factory demanding payment for undelivered vehicles and compensation for losses
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As suppliers surround headquarters demanding payment and employees work at half salary, the troubled Chinese EV maker pins its survival hopes on Thai market expansion
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Neta has struck a debt-for-equity swap deal with 134 core suppliers worth more than 2 billion yuan ($275 million) in preparation for resuming production, according to local media.
For details, please visit CnEVPost.
Notably, some employees have complained online that while staff are receiving minimum wage, the company continues to pay for expensive housing rentals for its executives.
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Neta reportedly obtained 818.8 million USD in investments. The company paid dalayed salaries and focused on overseas markets.
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Neta sold nearly 30,000 cars overseas in 2024, with overseas sales channels growing to 184.
For details, please visit CnEVPost.
Neta Auto officially made its debut at the Singapore Motor Show and officially announced the Neta X and Neta AYA models in Singapore
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Neta launched the Neta X and Neta Aya in Singapore today and secured 52 orders in the morning.
For details, please visit CnEVPost.
Neta is restructuring its channel system and will gradually close down directly-managed stores and retain dealer stores, according to local media.
For details, please visit CnEVPost.
Neta website was down on January 6 leading to rumors the company was the latest victim. Neta however refutes the rumor and the website is now back up.
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