Hozon, Chinese EV Giant Behind NETA, Files for Bankruptcy - What It Means for Thailand

Hozon, Chinese EV giant behind NETA, files for bankruptcy - what it means for Thailand

On June 19, China's state-owned media outlet CCTV reported that Zhejiang Hozon New Energy Automobile, the parent company of electric vehicle brand NETA, had officially filed for bankruptcy. The filing came after a creditor sued the company over an unpaid debt of approximately 5.3 million yuan (about US$730,000), amid total liabilities exceeding 10 billion yuan ($1.4 billion).

Neta’s Parent Company Officially Declares Bankruptcy

Neta’s financial troubles are well known within the automotive industry. Adding to the ongoing challenges, Zhejiang Hozon New Energy Automobile – the parent company of the Chinese EV maker – officially entered bankruptcy proceedings last Thursday (19 June). The news was reported by China’s state broadcaster CCTV the following day (20 June). According to the National Enterprise Bankruptcy Disclosure platform, the bankruptcy was initiated by a cre…

Hozon enters bankruptcy proceedings

BEV manufacturer Zhejiang Hozon New Energy Automobile Company has officially entered bankruptcy proceedings, according to local reports.

Neta enters bankruptcy proceedings in China

Neta parent firm, Zhejiang Hozon New Energy Automobile has officially entered into bankruptcy proceedings, reported Reuters citing Chinese state broadcaster CCTV. A creditor, Shanghai Yuxing Advertising has last month filed a bankruptcy petition against Hozon citing unpaid exhibition printing fees, reported Thailand news site The Nation, citing the Chinese national enterprise bankruptcy disclosure platform. Meanwhile, several Neta showrooms in S…

Neta’s Parent Company Enters Bankruptcy In China, Raising Concerns For Thai Dealers

BANGKOK – Zhejiang Hozon, the Chinese company behind the Neta electric vehicle brand, has started bankruptcy proceedings, worrying many in the electric vehicle sector, especially in Thailand, where Neta has seen strong growth. Hozon owes nearly 10 billion yuan (about USD 1.39 billion), leaving Thai dealers facing tough questions about ongoing business, warranty support and […] The post Neta’s Parent Company Enters Bankruptcy in China, Raising Co…