Fresh blows to China’s Neta: here’s how the one-time EV darling got here · TechNode

Fresh blows to China’s Neta: here’s how the one-time EV darling got here · TechNode

Chinese electric vehicle startup Neta Auto is facing mounting challenges after an advertising firm filed for bankruptcy proceedings against its parent company, in the latest blow to the former EV darling, which has been trying to regain investor confidence following unpaid debt, mass layoffs, and tales of factories lying idle.Neta’s financial woes are rapidly approaching the critical stage. The company, already backed by multiple Chinese regiona…