Start Restructuring Process, Neta Auto: Business Operations Around The World Run Normal

JAKARTA - In connection with the restructuring process currently being carried out bybolon New Energy Automobile Co., Ltd, which is the parent of Neta Auto, which officially entered the restructuring process on June 12, 2025.

"Based on the Bankruptcy Act of the People's Republic of China, we hereby convey a brief update, in order to provide the latest information to NETA partners and customers around the world regarding the company's latest developments during the process," the company said, in an official statement, Monday, July 21.

The Chinese manufacturer also claims that the majority of overseas subsidiaries ofbolon New Energy such as Neta Auto Thailand, Neta Auto Brasil and Neta Auto Indonesia as well as a number of Neta partners around the world continue to carry out business operations normally.

Subsidiaries abroad also continue to collaborate closely with Neta Auto Overseas, to ensure that all stages of the process run in an orderly, professional manner, and in accordance with applicable legal provisions.

"Hozon New Energy is committed to maintaining open and timely communication with all relevant subsidiaries and partners, in order to convey the latest information regarding the restructuring process," the company tweeted.

Several steps were taken and explained through several points.

Do not cover foreign companies

We need to emphasize that the subject of this restructuring only includes the Hozon New Energy Automobile Co., Ltd. This restructuring does not include subsidiaries of foreign companies or international cooperation activities carried out under the Neta brand by entities other than the Hozon New Energy. During the process, the Hozon New Energy is committed to maintaining the operational continuity of its basic international business.

The Beginning Of The Strategic Investor Recruitment Process

Hozon New Energy administrators have started an open recruitment process for prospective strategic investors since June 30, 2025. The deadline for submitting application documents is set on July 30, 2025. A number of investors with potential industrial synergies have completed the registration process and are currently following the initial selection stage organized by the Administrator. Based on the response that has been received, it is hoped that more high-quality strategic capital will participate in this process.

Purna Sale And Availability Services For International Parts

In this restructuring period,bolon New Energy continues to work closely with Administrators to gradually restore the operations of spare parts centers, and is committed to maintaining the sustainability of full-sale services and the availability of spare parts for international customers.Neta Auto and Administrator Horon New Energy sincerely appreciate the understanding and support of overseas partners, customers, and friends from all sectors of society who follow the development of Neta Auto.