Nezha Motors headquarters has just unveiled a new office space, only to announce remote work internally. A video shows that on the first day at the new headquarters, many employees gathered outside the new office of Nezha Motors Chairman and CEO, Fang Yunzhou, to demand their salaries.
九派财经 reported on June 12th that Nezha Motors headquarters internally announced that employees will be working remotely starting from June 12th. Access control to the office has been disabled, and employees moving personal belongings must report to the administrative department and local authorities.
Another current employee of Nezha Motors confirmed that employees will be working remotely starting on the 12th.
In addition, an insider at Nezha Motors who announced the aforementioned news also stated that Nezha Motors Chairman and CEO has already gone to Tongxiang.
Tongxiang City in Zhejiang Province is the registered location and factory site of Nezha Motors (Hezhong New Energy Automobile Co., Ltd.). Previously, employees of Nezha Motors headquarters had just moved from the old headquarters in Putuo District, Shanghai to the new office space in Hongqiao Business District.
According to reports from “21st Century Business Herald”, on May 29th, the “Nezha Motors” logo on the exterior wall of the Nezha Motors Shanghai Putuo District headquarters was removed, as well as the signage for the Nezha Experience Center located at the headquarters.
Sources informed Jupai Finance that after the removal of the signage, the Nezha Motors headquarters office was relocated to Hongqiao.
From the inauguration of the new office space to the announcement of remote work, excluding the Dragon Boat Festival holiday, it has been less than 10 days.
On the first day at the new headquarters, employees were already demanding their salaries. According to a video captured by a Nezha Motors employee, on the afternoon of June 11th, some employees went to the new Nezha Motors office in Hongqiao to negotiate with Fang Yunzhou.
In the video, Fang Yunzhou appeared a bit impatient, suggesting to select 3 representatives to talk and questioned, “Why did things turn out like this when we were working together in the company?” After speaking, Fang Yunzhou entered the office.
Upon hearing Fang Yunzhou’s words, many employees demanding their salaries questioned, “What kind of attitude is this?”
In another video clip, Fang Yunzhou briefly spoke a few words before closing the door casually. A group of employees demanding their salaries standing at the door seemed somewhat helpless, with almost no one speaking.
Established in 2014, Nezha Motors peaked as the top “New Force” car brand with a sales volume of 152,000 vehicles in 2022, and its valuation once reached 25 billion yuan. However, from 2023, the brand’s delivery situation took a sharp decline. In January this year, its domestic retail volume in China was only 110 vehicles.
There were reports not long ago stating that the “debt-to-equity” plan of Nezha to reduce debt in exchange for new financing had failed. A source close to Nezha Motors revealed that some investors still want to preserve Nezha but with the condition of removing Fang Yunzhou, the founder, Chairman, and CEO of Nezha Motors.
However, subsequent reports denied the failure of the debt-to-equity plan and the removal of Fang Yunzhou by Nezha Motors.
According to a report by Kejia Technology on June 10th, recent legal litigation information from Qichacha showed that an associated company of Nezha Motors, Hezhong New Energy Automobile Co., Ltd., added a new enforcement information with a target amount of over 17.5 million yuan, and the executing court was Tongxiang City Court.
As per current information, more than 100 enforcement information exist for the company, with a total enforcement amount exceeding 150 million yuan.
In June of this year, the company was fined 33,000 yuan by the Tongxiang City Human Resources and Social Security Bureau for violating the Labor Security Supervision Regulations. The penalty information shows that on March 24th and April 9th, 2025, the company carried out the act of “refusing to correct after being ordered to do so” at No. 988 Tongren Road, Tongxiang City, Jiaxing City, Zhejiang Province, which violated the sixth article of the Labor Security Supervision Regulations.
In April, several media outlets including “Daily Economic News” reported that multiple former employees of Nezha Motors claimed that the company owed nearly 400 million yuan in compensation, involving over 3,000 people.
In 2024, Nezha Motors initiated multiple rounds of salary cuts and layoffs. From November to December of the same year, a large number of employees negotiated to leave Nezha Motors, as the company was exposed for poor management issues.
In December 2024, Nezha Motors announced that due to a company strategic adjustment, Zhang Yong would no longer serve as CEO but as a consultant, while the founder and Chairman of Nezha Motors, Fang Yunzhou, took on the role of CEO.
Since 2025, Nezha Motors has been facing issues such as factory shutdowns, collective rights protection by suppliers and distributors, among others.