NETA Auto Nanning Production Base Auction Equipment Sale Update

NETA Auto Nanning Production Base Auction Details

The NETA Auto Nanning production base auction has been initiated for vehicle manufacturing equipment from the company’s production facility in Qingxiu District, Nanning. According to information disclosed on the official website of Alibaba Assets on July 27, the Qingxiu District People’s Court of Nanning conducted a public auction through the Alibaba Judicial Auction Platform. The auction covers complete manufacturing equipment from the NETA Auto facility located at No. 88 Changlong Road, Lingli Town, Qingxiu District, with assets previously used for electric passenger vehicle production activities.

The auctioned assets include 438 lots containing a total of 467 sets of machinery and equipment. The equipment portfolio covers critical manufacturing areas including stamping workshops, final assembly workshops, dies and tools. The disposal value of these assets is approximately CNY 60.31 million. Ownership of the equipment belongs to two Nanning project entities under Hozon New Energy Automobile Co Ltd, the parent company of NETA Auto: Guangxi Ningda Automotive Technology Co Ltd and its subsidiary, Nanning Ningda New Energy Vehicle Co Ltd.

Auction Outcome And Asset Ownership

As of the latest update, the first round of the auction for the NETA Auto Nanning production base equipment has not attracted any successful bidders. The unsuccessful bidding outcome highlights challenges surrounding the disposal of large-scale electric vehicle manufacturing assets. The equipment represents a major investment in production infrastructure developed for the battery electric passenger vehicle project established through cooperation between Hozon New Energy Automobile Co Ltd and the Nanning Municipal Government in China.

Nanning Electric Vehicle Manufacturing Project Background

The Nanning project was planned as a strategic battery electric passenger vehicle manufacturing initiative by Hozon New Energy. The company had announced plans to invest CNY 3.5 billion to construct the production facility in Nanning, Guangxi. The project was expected to achieve an annual production capacity of 100,000 vehicles after reaching full operational capability. It was also projected to generate annual output value of approximately CNY 12 billion through electric vehicle manufacturing operations.

The auction of production equipment indicates that the planned manufacturing expansion did not achieve the originally expected operational scale. The assets from the Nanning facility included production resources designed for passenger vehicle manufacturing, reflecting the significant industrial infrastructure established for electric vehicle development. The project was part of broader electrification efforts in the automotive sector, where companies invested heavily in new production capabilities to support increasing demand for battery electric vehicles.

Frequently Asked Questions

What happened in the NETA Auto Nanning production base auction?
The NETA Auto Nanning production base auction involved the sale of vehicle manufacturing equipment from an electric vehicle factory. The Qingxiu District People’s Court auctioned 438 lots containing 467 equipment sets with a disposal value of approximately CNY 60.31 million. The first auction round received no successful bids, leaving the future disposal process of these manufacturing assets uncertain.

Which companies owned the auctioned manufacturing equipment?
The auctioned equipment was owned by Guangxi Ningda Automotive Technology Co Ltd and Nanning Ningda New Energy Vehicle Co Ltd. These entities are associated with Hozon New Energy Automobile Co Ltd, the parent company of NETA Auto.