New energy vehicle (NEV) manufacturer Neta Auto has reportedly secured approximately 6 billion in funding, although the currency denomination has not been disclosed.

Sources say the funding involves contributions from both state-owned assets and battery maker CATL.

However, this information has not been officially confirmed.

Meanwhile, the company is reportedly nearing the completion of its restructuring efforts, focusing on achieving financial stability, maintaining vehicle production, and ensuring a stable supply of aftermarket parts.

Neta Auto aims to manufacture 1,000 vehicles by mid-January and 4,000 by the end of February.