Dayone Capital participated in NETA Auto's Series D3 round of financing, totaling hundreds of millions of CNY. NETA Auto was previously reported to be planning an initial public offering (IPO) in Hong Kong later this year.
NETA Auto. Its parent company, Hozonauto, was founded in 2014. The primary products of Hozonauto Auto are electric logistics vehicles and pure electric passenger vehicles. NETA Auto is quickly growing, delivered 63,131 units in the first half of 2022, a 199% increase yearly, surpassing Li Auto and NIO.
Feng Chen, the managing partner of Richu Capital, stated: "The global energy revolution, with the goal of "carbon peaking and carbon neutrality," is approaching. The new energy vehicle industry is experiencing rapid growth, which is critical for achieving the carbon neutrality goal.
With a market size in the trillions of dollars, China's new energy vehicle industry has enormous potential. China's brands are changing an industry dominated by joint venture brands since the age of fuel vehicles. The Chinese new energy vehicle industry is expected to maintain a strong position in global competition by leveraging China's dominant global supply chain and technical and product strength.
Yong Zhang, president, and co-founder of NETA Auto stated: "NETA Auto has always believed in the concept of producing cars for the general public. We are here to understand user needs and to help the industry grow."