NETA Auto Secures D3 Round of Financing

Recently, NETA Auto, a Chinese new energy vehicle company, completed a D3 round of financing worth several hundred million yuan, led by Dayone Capital.

NETA Auto is an automobile brand owned by Hozon. Founded in October 2014, Hozon is an innovative high-tech firm based on innovative technology research and development, intelligent manufacturing and multi-channel sales services.

Headquartered in Shanghai, Hozon has built production bases in Zhejiang Province and Jiangxi Province, and set up a design center in Beijing. On June 1, 2018, Hozon officially released its own car brand – NETA Auto. At present, NETA Auto has three models on sale: NETA S, NETA U and NETA V.

With investment funding from Internet security company Qihoo 360 and battery giant CATL, NETA Auto began to grow fast. In 2021, the cumulative delivery volume of the company reached 69,674 units, up 362% year-on-year. In the first half of 2022, the delivery volume reached 63,131 units, up 199% year-on-year, of which the delivery volume in June alone reached 13,157 units, up 156% year-on-year and 19.51% quarter-on-quarter, maintaining steady growth momentum.

SEE ALSO: Qihoo 360 CEO: Partial Transfer of Hozon Auto Equity Not Due to Lack of Funds

Another version of the NETA S, the Yaoshi, was unveiled at the end of June and orders are so far looking good. Configuration details, model variations, and price are set to be announced later in July.