Neta’s alleged troubles apparently extend beyond in its own home country. In less than three months since the electric vehicle (EV) brand’s introduction in Singapore, it appears Neta has now apparently quietly shuttered the doors to its first and only showroom in the country.
According to The Business Times (BT), the showroom located at One Commonwealth was closed during business hours when the publication visited last weekend. The outlet was completely empty, with no personnel or display cars present, despite no signages or notices posted about the closure.
Queries from BT remain unanswered by the company at the time of publication, while Neta Auto Singapore’s latest social media post was dated March 19, casting doubt over its future in the country.
Neta was launched in Singapore on January 9 this year, distributed by Evology Automobile. At the time at least, two models were offered, namely the Neta X and Neta Aya, the latter being essentially a facelift update to the Neta V available here in Malaysia.
According to local reports, some 52 orders were placed during Singapore Motor Show 2025 in January, although data from the country’s Land Transport Authority shows that only four Neta vehicles have been registered to date – two in November last year, and two more in January 2025.
Neta, the sole brand under the Shanghai-based Hozon Auto umbrella, has been reportedly facing financial troubles in its home country. Year-on-year sales were down 98% in January 2025, while China media has also reported that workers and suppliers were left unpaid, leading to protests in its headquarters in Shanghai.
The company faced a total of CNY17.2 billion (approx. RM10.6 billion) in losses between 2021 and 2023, and has allegedly shuttered its research and development department amidst financial troubles. Neta, however, dismissed these claims on its official Weibo account, and even threatening legal action against the “unreal propaganda”.
RELATED: Neta Auto delivers first 50 units of Neta X at new flagship 3S showroom in Ampang
Closer to home, the Neta brand is distributed here in Malaysia by one Intro Synergy Sdn. Bhd., and still appears to be operating as per usual at the time of writing. That said, the brand’s local assembly (CKD) operations, which were supposed to kick-start in the first quarter of 2025, has yet to commence yet, with no updates provided.
The carmaker signed an agreement with NexV Manufacturing back in April last year, for the latter to become the contract manufacturer for Neta in Malaysia at its new plant in Chembong, Negeri Sembilan. Aside from Neta, the facility will also manufacturer EVs from Dongfeng.
ALSO READ: Thailand to CKD Neta X for exports to Malaysia, Rembau plant still in development
