NIO Auto Posts $25.6B Loss Over Three Years Amid Intense Regional Investment Competition

Hozon New Energy Automobile Co., Ltd.—the parent company of Neta Auto—has accumulated losses totaling RMB 18.3 billion over the past three years. A recent report by CCTV's "Focus Talk" program revealed that local governments across China have engaged in intense, often wasteful competition ("involution") to attract investment in the new energy vehicle (NEV) sector, drawing public attention to the company's massive losses. The report emphasized that, beyond automakers, investors, and local governments, the vast community of vehicle owners—the affected "fourth party"—is frequently overlooked.