Electric vehicle (EV) manufacturer NETA AUTO THAILAND has dismissed false reports claiming that its parent company, Hozon New Energy Automobile (Hozon Auto), has gone bankrupt.
In an official statement, the company explained that the misinformation stemmed from a debt dispute involving Hozon Auto.


The creditor, Yuxing Advertising, had recently filed a petition with the court, requesting a review to determine whether the debtor company met the legal criteria for bankruptcy—such as lacking sufficient assets to repay its debts or being clearly unable to do so.


However, NETA clarified that this is a standard legal procedure for handling debt disputes and confirmed that Hozon Auto has not declared bankruptcy, nor does it intend to initiate bankruptcy proceedings.

“Hozon Auto is actively communicating with a number of suppliers, including Yuxing Advertising, to reach a debt resolution,”the announcement said.


“At present, Hozon Auto is actively resuming normal operations through a number of positive measures such as organisational optimisation, signing debt-to-equity swap agreements with suppliers, conducting strategic cooperation with major customers, and promoting new financing,”

NETA also highlights that it has over 25,000 car owners in Thailand and enjoys strong trust and a solid reputation among Thai consumers—key factors driving its continued success in the market.


To rebuild user confidence and protect consumer rights, NETA is actively improving spare parts supply to enhance repair response times and customer satisfaction.


“At present, the new NETA Spare Parts Distribution Centre is under construction and is expected to be put into formal operation next week,” the announcement said.


“This move will help integrate domestic and foreign parts resources, improve the supply speed of parts, and significantly shorten the parts supply cycle, thereby providing Thai users with better service quality.”

NETA AUTO THAILAND denies parent company bankruptcy claims