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Equity Bottom-Up

Hozon New Energy Automobile Co Ltd / Equity Bottom-Up

Hozon New Energy Automobile Co Ltd (1850123D CH)

<ul><li>Neta Auto, the Chinese electric vehicle (EV) startup, is teetering on the brink of collapse after a funding crisis brought production to a standstill and triggered mass layoffs, leaving its parent company scrambling for a financial lifeline amid rising debt.</li><li><strong>Hozon New Energy Automobile Co. Ltd.</strong>, which produces EVs under the Neta brand, revealed in February that its much-anticipated Series E funding round had unraveled.</li><li>Originally scheduled to close by Feb. 28 with a planned injection of 4 billion to 4.5 billion yuan ($550 million to $620 million), the deal never materialized.</li></ul>

Neta Auto, the Chinese electric vehicle (EV) startup, is teetering on the brink of collapse after a funding crisis brought production to a standstill and triggered mass layoffs, leaving its parent company scrambling for a financial lifeline amid rising debt.Hozon New Energy Automobile Co. Ltd., which produces EVs under the Neta brand, revealed in February that its much-anticipated Series E funding round had unraveled.Originally scheduled to close by Feb. 28 with a planned injection of 4 billion to 4.5 billion yuan ($550 million to $620 million), the deal never materialized.

Chinese EV Maker Neta on Brink of Collapse as $600 million Funding Round Falls Through 