NIOA Auto's Nanning Plant Auctions Equipment for RMB 60.3 Million; Project Initially Planned RMB 3.5 Billion Investment

On July 27, the Qingxiu District People's Court of Nanning City publicly auctioned 467 pieces of whole-vehicle manufacturing equipment from Neta Auto’s production base in Nanning, Guangxi, via Alibaba’s Judicial Auction Platform. Both the appraised value and the starting bid were set at RMB 60.3079 million. As of the time the auction notice was published, no potential bidders had registered. The equipment belongs to two Nanning-based subsidiaries of Hozon New Energy Automobile Co., Ltd.: Guangxi Ningda Automotive Technology Co., Ltd. and Nanning Ningda New Energy Automobile Co., Ltd. The equipment is located at No. 88 Changlong Road, Lingli Town, Qingxiu District, Nanning City. The enforcement case associated with this auction bears the case number (2026) Gui 0103 Zhi 178. The applicant for enforcement is Nanning Zhihong Technology Co., Ltd., while the respondents include Nanning Ningda New Energy Automobile Co., Ltd., Guangxi Ningda Automotive Technology Co., Ltd., Hozon New Energy Automobile Co., Ltd., and Nanning Yonghe Investment Co., Ltd., with an enforcement amount of RMB 45,686,632. The production base originated from a strategic cooperation agreement on new energy vehicles signed in November 2019 between the Nanning municipal government and Zhejiang Hozon New Energy Automobile Co., Ltd. The project planned an investment of RMB 3.5 billion to build a facility capable of producing 100,000 all-electric passenger vehicles annually, with an estimated annual output value of approximately RMB 12 billion upon full operation. According to public reports, the land and factory buildings for the project were primarily funded, acquired, and constructed by the Nanning side.