Located at One Commonwealth, the Neta showroom was previously intended to serve as a regional base for a Chinese electric vehicle (EV) manufacturer seeking international expansion.

However, it now appears that the showroom has closed permanently.

Neta entered the Singapore market with some initial visibility. During the 2025 Singapore Motorshow at Suntec City, the company unveiled two models - the Neta X and the Neta Aya - targeting the city-state's mainstream EV segment.

Despite this launch, only four Neta vehicles have been registered in Singapore to date - two in November 2024, before the official unveiling, and two more in January 2025.

There have been no further registrations since. It is understood that all four vehicles were registered to Evology Automobile, the company appointed to manage Neta's local sales and after-sales support. There is no indication that any customer vehicles have been delivered.

Evology Automobile was incorporated on 4 June 2024. Since the showroom's closure, there has been no visible presence of the brand in the market.

This withdrawal from Singapore may reflect broader issues currently affecting the company's operations in China.

Neta is owned by Hozon New Energy Automobile, a Shanghai-based company that has previously received government-backed funding. In recent months, however, the company has faced increasing financial difficulties.

According to Chinese media reports, Hozon is now at risk of bankruptcy after a funding round worth CNY 4 billion (US$ 545 million) failed to materialise.

In January 2025, the company's year-on-year sales reportedly declined by 98%. In November 2024, it was reported that production at its Zhejiang facility had been suspended, and employee salaries had been reduced.

Between 2021 and 2023, the company reportedly recorded losses totalling CNY 17.2 billion. These developments indicate that the company is currently facing considerable financial pressure.

Neta is not the only company experiencing such difficulties. The electric vehicle industry in China is highly competitive, with many manufacturers competing for market share, production capacity, and long-term viability.

Neta had initially positioned itself within the affordable EV segment but later shifted its focus towards the premium market.

Competing with more established manufacturers such as BYD - companies with greater financial resources, stronger brand recognition, and broader distribution networks - may have presented significant challenges.

The company's future remains uncertain. In Singapore, at least, it is evident that operations have ceased before the brand was able to establish a meaningful presence in the market.