Neta secures $818.8 million investment, resumes production

KATHMANDU: Chinese electric vehicle (EV) manufacturer Neta has received a substantial external investment of 6 billion yuan ($818.8 million), enabling the company to restart previously halted production.

Focus on int’l market in 2025

Neta plans to double its sales by 2025, primarily focusing on international markets.

The company aims to counter declining domestic sales, which dropped significantly by the end of 2024.

According to China EV Data Tracker, Neta sold 61,592 units between January and December, a 40.2% year-on-year decrease.

Despite this, Chairman Fang Yunzhao projects positive gross profits by 2025 and profitability by 2026.

Major investment partners

As per a report by DoNews, Neta’s recent funding includes contributions from state-owned assets and the world’s largest battery manufacturer, CATL. Notably, Neta was the first automaker to adopt CATL’s Bedrock chassis in Jan 2023.

The company’s L Crossover model is among the first to feature CATL’s Freevoy battery with sodium integration.

Neta has also completed internal adjustments to ensure stable operations and prioritize the supply of spare parts for post-sale services. Currently, the company is enhancing its dealership network within China.

Doubling int’l ssales

On Jan 17, 2025, Neta held its second International Dealer and Investor Conference.

The company has set a goal to double its international sales to 60,000 units in 2025, compared to 30,000 units sold globally last year.

Neta aims for a balanced sales distribution, with 50% of its sales in domestic markets and 50% internationally within the next two to three years.

To escape fierce price competition in the domestic market, Neta is capitalizing on opportunities in international markets.

The company has already established over 180 sales channels across 40 countries in Southeast Asia and Latin America.