Latest news with #Neta
Reuters
a day ago
- Automotive
- Reuters
Chinese EV maker Hozon enters bankruptcy proceedings, state media reports
BEIJING, June 20 (Reuters) - Zhejiang Hozon New Energy Automobile, the owner of Chinese electric vehicle brand Neta, officially entered bankruptcy proceedings on Thursday, China's state broadcaster CCTV reported on Friday. Multiple Neta stores in Shanghai have been closed, the report said. According to China's national corporate bankruptcy disclosure platform, a creditor last month filed a bankruptcy petition against the firm.
Time of India
a day ago
- Automotive
- Time of India
Chinese EV maker Hozon enters bankruptcy proceedings, state media reports
Zhejiang Hozon New Energy Automobile, the owner of Chinese electric vehicle brand Neta, officially entered bankruptcy proceedings on Thursday, China's state broadcaster CCTV reported on Friday. Multiple Neta stores in Shanghai have been closed, the report said. According to China's national corporate bankruptcy disclosure platform, a creditor last month filed a bankruptcy petition against the firm. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
Hypebeast
3 days ago
- Entertainment
- Hypebeast
Urban Sophistication's NYC Pop-Up Pays Homage to Its Big Apple Origins
Urban Sophistication, the lifestyle brand known for its playful blend of design and cultural satire, has arrived in the Big Apple to celebrate its ten-year journey, bringing an art-led pop-up to life titled 'huNgrY'. Siblings Neta and Elad Yam, who started Urban Sophistication in 2015, said, 'huNgrY is a tribute to that original spark—the hunger that shaped US. An homage to the city that ignited Urban Sophistication, where our first installation stood on W 33rd Street and 11th Avenue beneath scaffolding and steel. It's a story of becoming—written in grit, missteps, breakthroughs, and constant construction.' Designed by co-founder Elad Yam, the 'huNgrY' pop-up is an exploration of contrasts, centering on a massive pizza oven housing the brand's red hangbags and a steel dollhouse containing its whimsical phone cases. Within this immersive environment, the label also unveiled its new 'Feeels Nostalgic' collection and unreleased pieces available only at the pop-up. Standout pieces include a collegiate Urban Sophistication 2015 hoodie with ears, boldly striped knitwear, and metallic variants of its roomy handbags. 'Ten years ago, we came to New York to tell the story of Urban Sophistication. We sketched our logo—two stick figures—two of us, with the hope of creating something people could see themselves in. This personal mark became a portrait of all of us,' the duo continued. See the gallery above for a closer look at the installation and photos from the launch party. Until June 23, from 11 am – 7 pm, visitors can pay a visit to the SoHo art installation and pop-up at 152 Wooster Street.
South China Morning Post
5 days ago
- Automotive
- South China Morning Post
Shanghai firm sues to liquidate Hozon amid EV maker's financial struggles
The cutthroat competition in mainland China's electric vehicle (EV) market threatens to sink Hozon New Energy Automobile, as the maker of Neta-branded cars faces a lawsuit from a Shanghai-based advertising agency that wants the debt-ridden company to be liquidated. According to a document recently published on the National Enterprise Bankruptcy Information Disclosure Platform, a court in Jiaxing, in eastern China's Zhejiang province, is reviewing the bankruptcy case after Shanghai Yuxing Advertising filed a lawsuit against the EV maker for non-payment of dues. 'An increasing number of carmakers are facing a financial squeeze because of intense competition,' said Gao Shen, an independent analyst in Shanghai. 'Hozon's crisis has exacerbated a bearish sentiment surrounding the Chinese EV sector.' More than a dozen Chinese EV start-ups have collapsed over the past five years in a market crowded with more than 50 assemblers, which include WM Motor , Human Horizons, Jiyue and Byton. Only half of the nation's EV production capacity, or 20 million units, was put to use in 2024, according to Goldman Sachs. Hozon said in a statement last week that it had begun a reorganisation process. An official with the Shanghai-based carmaker, who asked not to be identified because of the sensitivity of the issue, said the company had several restructuring options, but none could ensure a successful bailout.
Straits Times
06-06-2025
- Automotive
- Straits Times
2025 ST Car of the Year mid-year scorecard
(Clockwise from top left) The Honda Accord, the Mazda CX-80 and Chinese EVS BYD Sealion 7 and the Hyptec HT. ST PHOTOS: CHONG JUN LIANG, MARK CHEONG, KEVIN LIM SINGAPORE – New cars launched in the 12 months up till November are in contention for the annual Straits Times Car of the Year (Coty) Award. May marks the midway point and it is a good time to take stock. Between December 2024 and May 2025, the Motoring section featured 37 local car reviews, consisting of 24 new models. The rest were facelifts or variants of existing models. So, what have we seen from the class of 2024/2025 so far and what is to come? 1. EVs, especially Chinese ones, dominate There were 19 electric vehicles (EVs) among the cars reviewed, with 14 of them from Chinese carmakers. Then there are EVs like the Tesla Model Y and Mini Aceman, which may not be Chinese brands, but are built in China. Beyond their attractive price tags and generous list of standard luxury features, the Chinese EVs also seem to be really energy-efficient. Many of the EVs tested managed to post better-than-average energy consumption figures than claimed. Among those EVs reviewed are 11 that come from brands which have not been in Singapore for more than a year. Deepal and Jaecoo, for example, were launched as recently as January. And if you cannot tell an Aion from a Skyworth or a Dongfeng, things are about to get even more confusing in the coming months. More brands are going to open shop in Singapore, like Leapmotor, which is a Chinese brand with backing from Stellantis, a global auto group with brands like Alfa Romeo and Peugeot. With more brands and more dealers in the game, i t will be difficult for the premiums for certificates of entitlement (COEs) to come down as everyone jostles for prominence, while the existing ones fight for survival. 2. Plenty of cars with three out of five stars The Volvo XC90 was just one point away from getting a fourth star. PHOTO: VOLVO In the past six months, all but seven cars reviewed scored three out of five stars. Among them was the Volvo XC90 that was just one point away from getting a fourth star. As a rule, cars with two or fewer stars are struck out of Coty contention, but even the three-star cars will go through a round of culling nearer December. While car reviews are quantitative in nature, ST's scoring system helps to focus the reviewer, measuring the car against its class rivals, awarding up to five points in the following areas: performance, handling, ride, build quality, efficiency, styling and X-factor. For practicality and value for money , the maximum score is doubled to 10. This is to help balance the driver-centric nature of the other components. 3. The cautionary tale that is Neta Chinese EV brand Neta's last two units were registered in January. PHOTO: ST FILE Chinese EV brand Neta was launched in Singapore at the end of 2024 . By April, the brand folded after registering just four cars in the few months that it was active. The last two units were registered in January. It was reported that the distributor pulled the plug after the shipment of ordered cars never arrived. The fate of the brand in other countries is also unclear at this point. As for the cars themselves, the V, which is a compact hatchback, felt like it needed more work. It also holds the record of being the only car rated one star since the current scoring system was implemented in 2022. The X, which is a sport utility vehicle (SUV), seemed more competent, but it did not offer compelling enough reasons to be picked over other cars in the segment. The lesson here is to spend some time to research and shop when considering a car purchase, even if you are not 'into' cars. As the industry continues to change, there will be brands that turn out to be the next standard-bearers, like Toyota , but there will be others that may not outlast the 10-year lifespan of a COE. 4. Streamlining of body types Every other new car has been some kind of SUV and it does not matter if they are in the mass market or the more exclusive end of the spectrum. Practically, the SUV form is suited for EVs because the boxier profile and loftier driving position leave space for batteries. SUVs also seem more popular with buyers, selling in bigger numbers than two-door coupes or the traditional three-box, four-door saloon. After the SUV, the multi-purpose vehicle (MPV) is the next most popular type of car. There are new offerings across size segments, from the compact Honda Freed to the gigantic Xpeng X9, which is nearly 5.3m long – bigger than limousines like the Mercedes-Benz S-Class. 5. Momentum for the next six months There will be more new brands arriving in the coming months. For sure, some will be electric, Chinese or both. But there are also interesting models that seem to be marching to a different beat, like the Corvette, which will be the first time the American supercar will be officially sold in Singapore. Join ST's Telegram channel and get the latest breaking news delivered to you.
