Intro Synergy Sdn Bhd, the exclusive distributor of Neta electric vehicles in Malaysia, has announced a restructuring of its local operations. The move follows organisational changes and financial restructuring at its parent company, Hozon New Energy Automobile Co Ltd, the Chinese firm behind the NETA brand.
In response to these global developments, Intro Synergy says it will shift its business model in Malaysia to a leaner, more efficient sales strategy. This includes moving away from the traditional dealership model in favour of a direct-to-consumer approach, a method already adopted by other major electric vehicle (EV) manufacturers. The company aims to expand its digital sales channels to stay competitive and improve nationwide accessibility.
Despite the changes, Intro Synergy has assured customers that aftersales support remains a top priority. All service centres across Malaysia will continue normal operations, and all warranties will remain valid. The company also reaffirmed its commitment to maintaining a sufficient supply of spare parts throughout the lifecycle of its vehicles. In situations where spare parts are unavailable, Intro Synergy has stated it will repurchase vehicles under standard terms and conditions.
For those who are unfamiliar, Hozon New Energy was founded in 2014 and later introduced its Neta brand in 2018, which focuses on producing affordable, smart electric vehicles. In the same year, it also debuted its first EV, the N01 compact SUV, in its home market of China. The sub-brand made its Malaysian debut in May 2023 with the launch of its entry-level Neta V model.
However, Neta is reportedly facing financial difficulties, with claims that it shut down its research and development operations in March this year. In April, the company is said to have entered a debt-to-equity swap deal with 134 key suppliers, valued at over CNY2 billion (approximately RM1.2 billion), to keep its production going. Meanwhile, speculation that Toyota was considering acquiring Neta was dismissed by the Japanese automaker.
Earlier in May, Intro Synergy released a statement addressing social media claims about the bankruptcy of Neta’s parent company, Hozon Auto. The company refuted the allegations, clarifying that the bankruptcy filing was initiated by a creditor, Yuxing Advertising, due to a debt dispute. It added that the filing was a routine legal process rather than an indication of actual bankruptcy.
(Source: Neta Malaysia / Intro Synergy, via Facebook)
