NETA Auto's parent company plans 4 billion-4.5 billion yuan Series E funding

Shanghai (Gasgoo)- On February 10, Chinese new energy vehicle maker NETA Auto announced that its parent company, Hozon New Energy Automobile Co., Ltd. ("Hozon Auto"), is in the process of securing Series E financing, targeting a total of approximately 4 billion yuan to 4.5 billion yuan. The lead investor is expected to contribute around 3 billion yuan.

During its 2025 shareholder communication meeting, Hozon Auto also outlined its three-year operational roadmap.

Having undergone a period of internal restructuring, including cost-cutting measures and streamlining operations, NETA Auto has reportedly reduced its monthly operating expenses by over 50%.

Previously, NETA Auto's founder, chairman, and CEO Mr. Fang Yunzhou stated that the company will implement six key reforms to achieve profitability within 2–3 years. One of its major strategic goals is to balance domestic and global sales, with half of its sales coming from overseas markets.

In 2024, NETA Auto recorded nearly 30,000 vehicles in overseas sales, expanding its distribution network to 184 locations across key markets in Southeast Asia and Latin America. In September last year, NETA became the second-best-selling all electric vehicle brand in Thailand. On November 22, its Brazilian subsidiary hosted its first dealer conference, announcing plans to establish over 10 stores in Brazil by the first quarter of 2025. On January 26, 2025, NETA Auto announced that its first stores in Brazil and Cambodia had opened for business.