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Nezha Automobile Officially Enters Bankruptcy Proceedings: The Meteoric Rise and Fall of a Prominent New Energy Vehicle Manufacturer
2 day ago /
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Author：小编
Shanghai Yuxing Advertising Co., Ltd. has filed for bankruptcy against Nezha Automobile's affiliated entity, Hozon New Energy. The case is currently under review by the Intermediate People's Court of Jiaxing, Zhejiang Province. Recently, Nezha Automobile CEO Fang Yunzhou faced protests from employees over unpaid wages, prompting the company to issue a notice mandating remote work, rendering office access controls obsolete. Established in 2014, Hozon New Energy introduced the Nezha Automobile brand in 2018, experiencing a period of rapid sales growth, with deliveries surpassing 150,000 units in 2022. Nevertheless, sales have since plummeted, and the company has increasingly found itself on the fringes of the market.
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