Fresh blows to China’s troubled EV maker Neta: here’s how the one-time EV darling got here

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READ MORE: Drive I/O | Meet the newest upstarts likely to grab chunks of China’s EV marketNeta is not the first and won’t be the last Chinese EV maker with money problems. This came a month after Neta announced a $25.6 million subsidy from the Hong Kong government. It posted a RMB 4.84 billion loss for 2023 after losing RMB 6.7 billion a year earlier. The Jiaxing Intermediate People’s Court in the eastern Chinese province of Zhejiang accepted the case, according to court filings. Seeking a review to assess whether the debtor meets the legal conditions for bankruptcy, the creditor said it was owed over RMB 1 million.