Neta's Plight Amidst China's Office Closure Turmoil

KatadataOTO – Neta is currently facing various sales challenges due to the large number of electric vehicle brands from China. The increasingly tight competition seems to be making the startup from China falter.

Many negative rumors have hit Neta. Most recently, the Neta logo being removed from its main office building in China sparked new speculation about the brand's future in the global market.

However, Neta later confirmed that this was only related to the end of the building's lease and that they would be moving to a new office.

In an interview with Thai media, a Neta representative did not deny that they are currently experiencing obstacles.

Photo : TrenOto

In the near future, Neta is reportedly set to undergo a corporate restructuring and announce new investors in Thailand.

“In China, Neta already has new investors, but it doesn't feel right to publicize which countries the investors are from,” said Sun Baolong, Head of Asia Business Southeast Asia Region for Neta, as quoted by Autolifethailand on Monday (09/05).

He confirmed that the manufacturer is still using the Neta name in Thailand, although there is a possibility of a name change following the change in investors.

On the other hand, Neta is also said to have various debts to dealers, suppliers, and logistics companies. As a result, production in the land of the white elephant has also been hampered.