Neta Auto
- π¦Became a unicorn2021
- πPeak valuation$6 Billion β23
- πBecame a Unitard2025
- πΈLast valuationWiped out
Total raised averaged per day over approximately 11.0 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology
The rise & fall
6 moments Β· 2014β2025The key moments.
How it happened
Neta, the budget EV marque of Zhejiang Hozon New Energy, was briefly one of China's top-selling EV startups, delivering more than 150,000 vehicles in 2022 at a pre-money valuation of 42.3 billion yuan (~$6B). A brutal price war gutted sales, a planned Series E unraveled and its valuation cratered to about 6 billion yuan (~$830M).
Backed earlier by investors including 360 and CATL, Hozon ran up roughly 9.8 billion yuan in debt and entered bankruptcy proceedings on June 19, 2025 β another casualty of China's EV shakeout.
Source: Caixin / TechNode / Yicai (Hozon pre-money 42.3B yuan Jan 2023, ~$6B; Series E collapsed; valuation cratered to 6B yuan; bankruptcy 19 Jun 2025, 9.8B yuan debt)
Founders & leadership
- Zhang YongCEO 2018-Dec 2024 (hired four years after founding; led through the peak)No public profile matched
- Fang Yunzhoufounder & chairman (founded Hozon in Oct 2014)No public profile matched
Disclosed investors (16)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round Β· Crunchbase β Β· 2026-10-23 Β· Methodology Β· Leaderboard
