Asian Tech Press (Nov 18) -- Neta Auto is in the process of raising a new round of funding of at least $800 million and up to $1 billion, according to sources familiar with the matter.

This round of funding follows a 4 billion yuan D1 investment led by 360 Group and is a pre-IPO fundraising round for Neta Auto ahead of its Hong Kong IPO.

Neta Auto made it clear that this is not an official statement.