Regarding the current state of Nezha Auto, those who follow the automotive industry are likely well aware of it. Since entering 2024, there has been a continuous stream of negative news about Nezha Auto, including unpaid wages, unpaid supplier invoices, and factory shutdowns.

Faced with these adverse factors, Nezha Auto has not given up. In 2024, it not only launched the all-new mid-size electric SUV Nezha L but also accelerated its expansion into overseas markets.

Meanwhile, Zhou Hongyi, the chairman of 360 and this year's 'top internet celebrity' in the automotive industry, has spared no effort in promoting Nezha Auto and has publicly criticized CEO Zhang Yong multiple times, attracting significant attention in the automotive community.

Undoubtedly, riding on Zhou Hongyi's popularity has certainly increased Nezha Auto and Zhang Yong's market attention and fame.

Unfortunately, despite Zhou Hongyi's strong support, Nezha Auto, facing the fiercely competitive domestic electric vehicle market, has struggled to stay afloat. After entering the fourth quarter of this year, it could no longer sustain itself.

Starting from November, Nezha Auto failed to promptly release October sales data, as it usually does, and the same was true in December. When an emerging automaker loses the courage to release sales figures, what does it imply?

Looking at the emerging automakers like Weima and HiPhi that have collapsed in recent years, perhaps you will understand the implications.

Not only is Nezha Auto's sales performance a mystery, but even the previously active CEO Zhang Yong's current status at the company is uncertain. Recently, there have been rumors that Zhang Yong has resigned as CEO of Nezha Auto and joined a commercial vehicle brand named 'Dali Niumaowang'.

However, Nezha Auto soon issued an official statement regarding this matter.

In an interview with the media, Nezha Auto officially responded that due to strategic adjustments, Zhang Yong would step down as CEO and become a company consultant. The position of CEO would be taken up by Nezha Auto's founder and chairman, Fang Yunzhou.

Through research, we found that Dali Niumaowang, the commercial vehicle brand where Zhang Yong is rumored to have taken a new position, is also invested by Nezha Auto's founder Fang Yunzhou.

Therefore, it is highly likely that Zhang Yong is still with Nezha Auto. His stepping down as CEO marks the end of Zhang Yong's era at Nezha Auto.

Meanwhile, Fang Yunzhou, the founder of Nezha Auto, also sent a letter to all employees. This letter roughly conveys two messages: self-reflection and optimization and reform.

He also stated that while striving to achieve an IPO, Nezha Auto would also focus on domestic markets and pursue global expansion. The goals are to achieve positive gross margins by 2025 and profitability by 2026.

Judging from the currently available information, Nezha Auto's financial situation has been very bleak in the past two months, with multiple lawsuits filed against it. On December 4, Beijing DiSi Public Relations Consulting Co., Ltd., a wholly-owned subsidiary of Beijing Focus Media Holding Development Co., Ltd., sued Hezhong Automobile again, involving an amount of 53.5507 million yuan.

After the end of Zhang Yong's era and amidst internal and external challenges, can Nezha Auto, now led personally by its founder Fang Yunzhou, continue to 'make waves'? Let's wait and see.

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