Lease Term Expired, Neta Logo Removed at Headquarters

KatadataOTO – The Neta logo was removed from its headquarters in Shanghai. The workers who dismantled the sign used various tools and left only a faint trace after completing their task.

Reporting from Carnewschina, the company admitted that the removal was done because the lease expired last month. They are currently preparing to move to a new office, but the location has not yet been mentioned.

Neta Auto itself was once considered a successful electric vehicle company. This is because they were quite fast in developing their market in several foreign countries, including Thailand and Indonesia.

However, the company is now grappling with a power struggle that could determine the future course of its business. Even Hozon New Energy Automobile, the parent company, is moving to hold a board of directors meeting to remove Fang Yunzhou from his dual role as chairman and CEO.

Photo : KatadataOTO

This development comes as the company is grappling with losses, supply chain disruptions, and factory closures.

This is certainly surprising because Fang is actually one of the company's founders. He was even once considered an innovative leader.

Unfortunately, he is facing harsh criticism from shareholders for his handling of the company's finances and strategy. Those who previously supported him have now suffered losses of up to 18.3 billion yuan and a debt ratio of up to 217 percent.

According to information, unpaid debts to suppliers have exceeded 6 billion yuan. As a result, several components are no longer being delivered, including batteries from CATL.

Neta's difficult situation is not only felt in China. In other countries like Indonesia, the conditions are also challenging.

Based on Gaikindo data, since January 2025, Neta Auto Indonesia has not yet produced a single vehicle unit. This is despite the Chinese manufacturer still being quite active in selling its cars.

Photo : ASEAN NCAP

In April 2025, for example, their retail sales reached 50 units. This figure is down from the previous month's 57 units, bringing the total cars delivered to customers in the first four months to 205 units.

Meanwhile, their wholesales in April 2025 were 52 units, a slight decrease from the previous month's 55 units. The total number of cars successfully shipped from the factory to dealers is 250 units.