- Neta’s sales have dried up this year after it sold 64,500 vehicles in 2024.
- The company has stopped production and let go of many of its employees.
- As of early 2025, it had been valued at around 6 billion yuan or $828 million.
Many have lamented Toyota’s slow transition to battery-electric vehicles, but it’s now investing heavily in them, particularly in the Chinese market. The Japanese automaker’s next step could be to acquire one of China’s many small EV brands that have run into financial troubles: Neta.
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Toyota has often been criticized for its slow move into the world of battery-electric vehicles. However, it’s finally starting to invest more heavily in them, with a particular focus on the Chinese market. The next logical step for the Japanese automaker could be to acquire one of China’s many small, struggling EV brands, and specifically, Neta.
Founded in 2014 by Hozon New Energy Auto, Neta has produced some appealing models, including the GT two-door sports car, the S sedan, and the S Hunting Edition, a sleek sports wagon. However, the company has faced significant financial challenges since mid-2024, which led to a production halt and layoffs.
Read: Neta S Hunting Edition Is A China Exclusive Sexy Shooting Brake
An investment deal was reportedly within reach earlier this year. In February, Neta secured an infusion of about $552 million to $621 million in new funding, but the deal was contingent on production resuming, something that never happened, causing the investment to fall through. Now, Toyota appears to be eyeing the opportunity and might look to acquire Neta’s assets.
According to a report from China’s Kuai Technology, Toyota is considering purchasing Neta. While there are no details yet on how much this acquisition might cost, Neta’s valuation was around 6 billion yuan (about $828 million) earlier this year. That’s pocket change for Toyota, which reported more than $130 billion in cash and equivalents at the end of 2024.
It’s worth noting that Xu Yiming, Toyota’s brand communications director in China, has denied any knowledge of the company’s interest in buying Neta, according to CarNewsChina.
If Toyota does decide to move forward with the acquisition, it would gain not only Neta’s assets and technology but also a better understanding of the competitive Chinese market. In 2024, Neta sold 64,500 vehicles, but by January of this year, it had only sold 110, an indicator of how dire the situation has become.
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