It took less than 2 minutes to turn Shanghai Auto Show 2021 into a PR nightmare for the US automaker.
- After a year of research, Chinese internet security company Qihoo 360 is leading series D financing into EV startup Neta.
- Neta has sold 28 000 cars since 2018 and raised one billion USD (6.4 billion CNY).
- The latest D round will bring the company another 0.5 billion USD (3 billion CNY).
Inconspicuous Chinese brand Neta (or Nezha, manufacture can’t decide and use both names) is a marque of Hozon motors, the first Chinese EV startup founded in 2014, around 50km southwest of Shanghai. Their first car Neta 01, all-electric crossover with a pleasant price of 12 000 USD (80 000 CNY), started mass production in 2018. Since then sold over 20 000 pieces, making it the most successful car from Hozon auto so far. This can soon change.