Neta first landed in Singapore back in January with its fully electric X crossover and Aya hatchback.
While the troubled Chinese automaker has previously stated its intent to look beyond its borders for salvation in its time of need, things don’t appear to be going too well on that front either. This is especially apparent as the company’s first and only showroom in Singapore has already shuttered — just under three months since the brand initially made its debut there.
This story was first broken by The Business Times (BT), which reported that the sole Neta showroom, located at One Commonwealth, was closed during business hours when the publication visited last weekend. While no signage or official notices were posted regarding the closure, there also were no personnel or display cars present within the unlit and locked premises.
Neta first landed in our neighbours across the causeway on January 9th this year, with local distribution handled by Evology Automobile. Two fully electric models were offered at launch: the Neta X crossover and the Neta Aya hatchback — the latter essentially being a facelifted update of the Neta V, which is also available here in Malaysia.
According to local reports at the time, Neta received 52 orders for its cars during the Singapore Motor Show 2025 in January. However, data from the country’s Land Transport Authority shows that only four Neta vehicles have been registered to date: two in November last year and two more in January 2025.
Over here meanwhile, Neta’s fortunes have fared ever so slightly better. The Chinese automaker first arrived in Malaysia in late 2023, with JPJ data now showing 45 Neta Xs and 268 Neta Vs registered locally to date.
Last November, there were rumours that Neta Auto was on the verge of bankruptcy. The troubled Chinese automaker, however, reportedly secured 6 billion yuan (RM 3.7 billion) in investments from various state-owned entities earlier this year, with battery maker CATL allegedly participating in the financing as well.
The automaker is also said to be engaged in financing talks with a foreign sovereign wealth fund in a bid to stave off imminent financial ruin. Company insiders, however, suggest that Neta’s debt could be as high as 10 billion yuan (RM6.13 billion), raising concerns about the company’s potential for recovery.
According to China EV DataTracker, its January sales in China essentially collapsed, plunging 98% year-on-year. In February, it reportedly sold fewer than 400 cars in the world’s largest auto market.
