Hozon Auto
Corporate brand
UnclaimedHozon Auto is a Chinese electric-vehicle manufacturer whose vehicles are sold under the Neta brand.
Last updated October 9, 2026
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Overview
Hozon Auto, also known as Hozon New Energy and Neta Auto, is a Chinese electric-vehicle manufacturer established in 2014. The company was founded in Zhejiang with participation from Beijing Sinohytec and the Zhejiang Yangtze Delta Region Institute of Tsinghua University. Its principal vehicle marque is Neta, written 哪吒 in Chinese and named after the mythological and literary figure Nezha. Hozon developed as one of China's newer electric-vehicle start-ups and initially concentrated on relatively affordable battery-electric vehicles for mass-market buyers. The company is based in Shanghai, with its current headquarters opened in the city's Putuo District in 2023. It also established an autonomous-vehicle research centre in Silicon Valley in 2018 and a Beijing design centre in 2019. Hozon's technology and vehicle development have been organized around platforms such as HPA and HPC. Its first concept vehicle was announced in 2017, followed by the Neta N01 compact SUV in 2018. The Neta U entered the company's product planning and order-taking program in 2019, and the range subsequently expanded to include the Neta V, Neta S, Neta GT and Neta L. Neta's early commercial strategy was based on affordable compact SUVs, particularly the Neta V and Neta U. The company gained meaningful scale during the rapid expansion of China's new-energy-vehicle market. In 2021 it ranked among the leading Chinese electric-vehicle start-ups by deliveries, behind XPeng, Li Auto and NIO according to the referenced account. Its sales reached a reported peak of approximately 148,700 vehicles in 2022, when the brand was described as the highest-selling among China's new-energy-vehicle start-ups. The company also reported more than 150,000 deliveries during the first eleven months of 2022 and approximately 240,255 cumulative deliveries since the brand's creation. In 2023 Hozon attempted to move Neta upmarket with the Neta S sedan and Neta GT sports car. The strategy reduced the emphasis placed on the established entry-level models in direct-sales channels, while the V and U were directed more heavily through conventional dealerships. The higher-priced models did not generate the expected momentum, and overall sales declined. In 2024 the company returned toward its earlier mass-market positioning with the Neta L, but reported delivery delays, limited updates to older models and a weakened retail position contributed to further pressure. Hozon also pursued international expansion. It announced a Thai production project in 2023, began local assembly with Bangchan General Assembly, and introduced right-hand-drive vehicles for Thailand and other ASEAN markets. Neta entered Indonesia in 2023 and began local assembly there in 2024. The company also announced operations or manufacturing ambitions in Brazil and entered Kenya. These efforts were intended to diversify sales and create overseas manufacturing capacity, but they occurred alongside severe financial and operational difficulties in China. From 2024 onward, reports described delayed employee compensation, salary restructuring, cost reductions, layoffs, supplier arrears, production stoppages and unsuccessful efforts to stabilize the company's capital position. Local-government investment vehicles in Yichun, Tongxiang and Nanning announced or made substantial support commitments, while Hozon also pursued supplier debt-to-equity arrangements. In late 2024, founder and chairman Fang Yunzhou replaced Zhang Yong as chief executive. During 2025, Hozon and related entities faced further enforcement actions and bankruptcy-review proceedings, while its principal production bases were reported to have ceased production. The company's ultimate operating status remains unclear.
History
Hozon Auto was established in 2014 in Zhejiang through cooperation involving Beijing Sinohytec and the Zhejiang Yangtze Delta Region Institute of Tsinghua University. The company later based its principal operations in Jiaxing and developed an electric-vehicle business under the Neta name. Its early activities included research, platform development and the creation of design capabilities. A Silicon Valley autonomous-vehicle research centre opened in 2018, followed by a Beijing design centre in March 2019. The company moved its headquarters to Shanghai's Putuo District in 2023. Hozon presented its first concept vehicle in 2017 and launched the Neta N01 compact electric SUV in 2018. The model was built on the company's HPA platform and marked the beginning of Neta's commercial vehicle range. Orders for the larger Neta U, based on the HPC platform, began in 2019. Hozon subsequently broadened the range with the Neta V, Neta S, Neta GT and Neta L, combining battery-electric power with extended-range configurations on selected models. The company's initial market proposition was comparatively simple: offer affordable electric cars to Chinese consumers, especially buyers seeking compact SUVs. This approach allowed Neta to gain scale during the rapid growth of China's new-energy-vehicle market. Neta was among the small number of start-ups that achieved mass production and meaningful deliveries in 2019. Its sales accelerated through 2020 and 2021, and the Neta V and Neta U became the principal volume models. Reported deliveries peaked at approximately 148,700 vehicles in 2022. The company also reported more than 150,000 deliveries in the first eleven months of that year and cumulative deliveries of about 240,255 vehicles since the brand's launch. Hozon then attempted to reposition Neta above its established price range. The Neta S sedan and Neta GT sports car were introduced in 2023 to address more expensive segments. At the same time, sales of the Neta V and Neta U were concentrated more heavily in 4S dealerships, while direct-sales outlets promoted the newer, higher-priced products. The premium-oriented strategy did not deliver the expected sales performance. Neta's annual sales declined in 2023, and the older entry-level vehicles continued to account for a large proportion of total volume despite receiving less direct-sales attention. In 2024 the company sought to return to mass-market positioning with the Neta L. The model initially attracted consumer interest, but delivery delays damaged confidence. Limited product updates for older vehicles, weaker retail momentum and the failure of the upmarket launch combined to undermine the previous sales model. Hozon also faced disputes and pressure in the insurance market, with some owners reporting sharply higher premiums or difficulty obtaining coverage. Industry commentary associated these problems with accident rates among vehicles used for online ride-hailing. International expansion became a central part of Hozon's strategy. In Thailand, the company announced an assembly facility in Bangkok and worked with Bangchan General Assembly to assemble right-hand-drive Neta vehicles. The Neta V-II was selected as an early locally assembled model, with Thailand intended to serve as a base for ASEAN exports. Neta entered Indonesia in 2023 and began local assembly at the Handal Motor Indonesia facility in 2024. Hozon also announced operations or factory plans in Brazil and entered Kenya in an effort to develop markets outside China. Financial and operational strain became increasingly visible in 2024. Employees reported delays involving bonuses and, later, some compensation payments. The company described these events as part of salary restructuring and cost control, while reports also described reductions affecting research-and-development staff and substantial organizational streamlining. Hozon said it was focusing on core activities, overseas expansion and the goal of reaching positive operating cash flow. In December 2024, Zhang Yong left the chief executive position and became a consultant; founder and chairman Fang Yunzhou became chief executive and publicly accepted responsibility for the company's difficulties. During 2025, Hozon attempted to address creditor pressure through supplier debt-to-equity proposals. The plan reportedly sought to convert most supplier liabilities into equity while paying the balance over time. Several major suppliers were described as supportive, but the proposal did not receive universal approval. Hozon's principal Chinese manufacturing bases were reported to have stopped production, and related entities faced debt enforcement, creditor applications and bankruptcy-review proceedings. Reports also described judicial freezes involving a shareholding platform connected with the founding team. By mid-2025, the company had moved employees out of its Shanghai premises and operated under severe uncertainty. A later report alleged that some previously reported vehicle sales had been recorded through advance insurance arrangements before delivery; this remains a disputed and serious reporting controversy.
- 2025
Supplier debt restructuring proposed
[1]Hozon proposes converting a major portion of supplier debt into equity while paying the remainder in installments.
- 2024
Government-linked financing proposals emerge
[1]Hong Kong and local-government investment entities announce proposed support intended to ease financial pressure, support overseas expansion and facilitate a possible IPO.
- 2024
Fang Yunzhou assumes chief executive role
[1]Founder and chairman Fang Yunzhou becomes chief executive after Zhang Yong moves to a consulting role.
- 2023
Shanghai headquarters opens
[1]Hozon opens its current headquarters in Shanghai's Putuo District.
- 2018
Neta N01 launches
[1]The Neta N01 compact electric SUV becomes Hozon's first production model.
- 2017
First concept vehicle announced
[1]Hozon presents its first concept car as it develops the future Neta product line.
- 2014
Hozon Auto is established
[1]The company is founded in Zhejiang with participation from Beijing Sinohytec and the Zhejiang Yangtze Delta Region Institute of Tsinghua University.
Products and positioning
Affordable and increasingly international electric mobility, with an attempted but unsuccessful move toward higher-priced vehicles.
Subcompact electric SUV · 2018
Neta N01
The Neta N01 was Hozon Auto's first production vehicle and the model that introduced the Neta brand to the market. It was a compact battery-electric sport-utility vehicle built on Hozon's HPA platform. The N01 established the company's early focus on accessible electric mobility rather than premium positioning.
Subcompact electric SUV · 2020
Neta V / Neta Aya
The Neta V was one of the principal volume models in Hozon's early growth strategy. It targeted price-sensitive urban buyers with a small electric SUV format and became an important contributor to Neta's delivery expansion. The model was later marketed under the Aya name in some contexts and was exported to markets including Thailand and Indonesia.
Compact electric SUV · 2020
Neta U / Neta X
The Neta U was a larger electric SUV developed on Hozon's HPC platform. It complemented the smaller Neta V and helped establish Neta's position in China's affordable compact-SUV segment. Later versions or market designations included Neta X.
Midsize sedan and estate · 2022
Neta S
The Neta S was introduced as part of Hozon's attempt to move the brand into higher-priced segments. It used battery-electric and extended-range powertrain configurations and was positioned above the earlier compact SUVs. Its launch reflected the company's effort to compete for more affluent customers, but sales reportedly did not meet expectations.
Midsize electric sports car · 2023
Neta GT
The Neta GT was a sports-car offering designed to broaden Neta's image beyond affordable compact electric SUVs. It formed part of the 2023 upmarket strategy and was intended to demonstrate a more performance-oriented side of the brand. The model did not produce the sales momentum needed to reverse the company's broader commercial difficulties.
Midsize electric SUV · 2024
Neta L
The Neta L represented Hozon's attempt to recover its earlier mass-market appeal after the weak response to its higher-priced products. It was offered with battery-electric and extended-range configurations and initially generated consumer interest. Delivery delays, however, reportedly harmed customer confidence and limited the model's ability to restore the brand's sales trajectory.
Controversies
2025
Alleged premature sales booking through insurance arrangements
A Reuters report alleged that Neta recorded some vehicles as sold after arranging insurance before the vehicles reached final customers. The report said the practice affected a substantial proportion of reported sales between January 2023 and March 2024. The allegation raises questions about the accuracy and timing of Hozon's sales reporting.
Brand decisions
2025
Supplier debt-to-equity proposalOtherBackground
Hozon needed to address substantial supplier liabilities and preserve its supply chain during a severe funding crisis.
Action taken
The company proposed converting approximately 70 percent of supplier debt into parent-company equity and repaying the balance in interest-free cash installments.
Aftermath
The proposal received support from some major suppliers but was not accepted by all creditors. Production and supply-chain operations remained under severe pressure.
2024
Return toward mass-market positioningStrategyBackground
After the unsuccessful upmarket push, Hozon needed to rebuild volume through products closer to its original affordable-electric-vehicle proposition.
Action taken
The company introduced the Neta L and emphasized lower-cost electric mobility again.
Aftermath
Initial consumer interest was followed by reported delivery delays, weaker reputation and continuing sales pressure.
2024
Organizational restructuring and overseas focusStrategyBackground
Hozon faced liquidity pressure, delayed compensation reports, supplier problems and declining domestic sales.
Action taken
The company announced organizational streamlining, cost controls, greater focus on core business and additional resources for overseas markets.
Aftermath
Reports continued to describe layoffs, production stoppages, creditor pressure and worsening operational uncertainty.
2023
Attempted move into higher-priced vehicle segmentsStrategyBackground
Hozon sought to reduce its dependence on entry-level SUVs and improve the Neta brand's market position with newer, more expensive products.
Action taken
The company launched the Neta S and Neta GT and shifted direct-sales attention toward those models, while the Neta V and Neta U relied more heavily on 4S dealerships.
Aftermath
The higher-priced models performed weakly, overall sales declined, and the established entry-level customer base was weakened.
Recent events
- Unconfirmed
Reported
360 Security completes signing investment agreements for HOZON Auto investment[2]
360 Security said it had completed signing the related agreements for its investment in HOZON Auto, after previously stating its intention to invest 2.9 billion yuan.
- Unconfirmed
Reported
HOZON Auto introduces NETA S[3]
HOZON Auto introduced its self-developed digitalized new model, the NETA S, during the World Internet Conference.
Reported
HOZON Auto and Horizon Robotics enter strategic agreement[4]
HOZON Auto entered into a long-term strategic agreement with Horizon Robotics. Under the agreement, Horizon Robotics will provide automotive-grade computing chips and technical support to HOZON Auto; NETA plans to launch a Journey-powered model the following year.
Sources4 sources
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