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Chinese battery giant Contemporary Amperex Technology (CATL) has introduced Tianxing, a new electric vehicle battery brand specifically for commercial applications. On July 4, CATL launched this brand alongside its inaugural product: the Tianxing-L battery.
The Tianxing-L battery meets a broad range of logistics needs, with capacities from 30–200 kilowatt-hours and real-world ranges from 150–500 kilometers. During the launch, CATL presented two versions of the battery: a super fast-charging edition and a long-range edition:
<ul>
<li aria-level="1">The super fast-charging edition offers 4C charging with an eight-year, 800,000-kilometer warranty. It has a power capacity of 140 kWh, providing a 350-kilometer range under actual working conditions. This version can achieve a 60% state of charge (SOC) in just 12 minutes, making it ideal for suburban transportation and urban deliveries by reducing wait times and increasing freight frequency.</li>
<li aria-level="1">The long-range edition provides a 500-kilometer range with the same warranty period. It features a 200 kWh power capacity, addressing concerns about battery drain during long-distance freight. With an energy density of 200 Wh/kg, it reduces vehicle weight by 300 kilograms, allowing for greater payloads and longer driving distances.</li>
</ul>
CATL has already secured mass production agreements for the Tianxing-L with 13 manufacturers, covering 21 commercial vehicle models, including those from Geely and Dongfeng Motor.
Tianxing-L is CATL’s response to the rising penetration rate of commercial EVs. Cui Dongshu, secretary-general of the China Passenger Car Association, noted that the penetration rate was around 3% from 2019–2021 but surged to 19% by May this year, up from around 9% in 2023.
This growth aligns with CATL’s research identifying battery-related challenges hindering EV adoption, such as slow recharging speeds, limited travel distances, and high overall costs. For example, a 230-kilometer logistics route requires four recharges, each taking about an hour. Concerns over recharging delays and costs have even led some drivers to forgo air conditioning despite the heat.
Tianxing aims to address these pain points by offering products with long battery life and high efficiency, while prioritizing safety. CATL stated that Tianxing batteries, including the latest Tianxing-L, will feature non-thermal propagation technology and aircraft-grade thermal insulation materials to enhance safety from the battery cell level.
Super fast-charging has been a hallmark of CATL’s product line, with continuous advancements since the company first introduced the concept with the <a href="https://kr-asia.com/catl-introduces-shenxing-lfp-battery-to-usher-in-era-of-fast-charging-evs">Shenxing battery</a> in August 2023. Tianxing batteries utilize low-lithium graphite and biomimetic self-repairing solid electrolyte interface (SEI) passivation film technology, enabling 4C super fast-charging and up to a 100% increase in battery life cycles.
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The batteries also incorporate cell-to-pack (CTP) 3.0 technology and an optimized topological structure, improving grouping efficiency and integrating dual-layer large-surface liquid cooling. These innovations significantly enhance energy density and thermal management, boosting range performance while reducing battery weight.
CATL plans to launch more products under the Tianxing brand to meet the diverse needs of the commercial vehicle segment.
Wu Kai, chief scientist of CATL, said the company is “committed to maximizing the value of the commercial vehicle industry through technological innovation.”

CATL launches Tianxing battery brand, targets commercial EV applications

CATL

China Tech

Electric Vehicles

Battery

Mobility

China

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Deals in brief: Nika.eco secures seed funding, FMO provides debt financing to Validus, Airs Medical closes Series C round, and more

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Investment

Merger &amp; Acquisition

Singapore

Indonesia

South Korea

Southeast Asia

… growth."
Aside from economic policies, key party personnel changes will also be closely watched. Former foreign minister Qin Gang and former defense minister Li Shangfu were suddenly removed from their government posts last year. Then last week, Li was <a title="" href="https://asia.nikkei.com/Politics/China-s-Communist-Party-expels-two-former-defense-ministers" target="_blank" rel="noopener">expelled from the party</a> over alleged corruption, although Qin remains a central committee member.
For many economists, rescuing the property sector should top the to-do list.
Steering investment away from real estate and into high-tech industries has been a key policy initiative under Xi. Tougher restrictions on real estate developers were introduced in 2020, prompting a funding crunch at some of the biggest players including Evergrande, Country Garden, and China Vanke. That spread panic among homebuyers, sent prices tumbling sharply across the country and led to liquidation orders and wind-up petitions against some developers.
In a sign that the correction was bigger than policymakers anticipated, authorities since last year have been rolling out measures to ease the pressure on prices. The People's Bank of China, the central bank, in May said it would set up a <a title="" href="https://asia.nikkei.com/Business/Markets/China-debt-crunch/China-unveils-41bn-lending-program-to-digest-unsold-properties" target="_blank" rel="noopener">RMB 300 billion (USD 41 billion) financing scheme</a> to encourage local governments to buy unsold homes and convert them into affordable housing. Minimum down payment requirements were lowered, and a floor on mortgage rates was scrapped.
But all this has failed to stop the slide. In May, new home sales prices across 70 cities in China fell 4.3% from a year earlier, based on figures released by the National Bureau of Statistics. Prices of secondhand homes fell an even steeper 7.5%, the biggest drop in at least 20 years, according to data provider Wind.
A few days after the data came out, the Ministry of Housing and Urban-Rural Development held a video conference and asked local governments to "further enhance their sense of responsibility and mission" in implementing state policies.
One Hong Kong-based analyst said there are "still a lot of uncertainties" when it comes to household sentiment—"towards the housing sector, towards economic prospects, towards income growth."
"We have to be patient about this round of economic recovery," the analyst said, saying the government's fiscal policy is likely to play a bigger role as the central bank has limited room to lower interest rates further. Doing so would risk squeezing the already low net interest margins of Chinese banks and compromising their financial health.
New and convincing policy support for the property sector could breathe fresh life into the Chinese stock market. Shanghai's benchmark SSE Composite Index has declined 6% from its high in May, while its year-to-date performance is roughly flat. An index of mainland-listed property stocks is down more than 10%.
So far, government support for the Chinese capital markets has also focused on tech self-sufficiency—a priority as the US works to restrict China's access to advanced and sensitive technology. China's State Council recently announced measures aimed at strengthening oversight of the <a title="" href="https://asia.nikkei.com/Business/Markets/China-to-revamp-tech-focused-stock-market-as-U.S.-still-dominates" target="_blank" rel="noopener">tech-focused STAR market</a> on the Shanghai exchange.
"My impression is that the top leadership actually is pretty comfortable with the way things are going," Kroeber of Gavekal Dragonomics said. "We're seeing domestically, a reallocation of capital away from the old sectors from infrastructure into new sectors" such as green energy and semiconductors.
"One of the reasons that you have not seen more fiscal support for the economy is that they don't think it's really necessary. The costs of the current economic policies both domestically and internationally, need to become much, much higher before you see the significant reorientation in Chinese policy."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/Asia-Insight/China-s-leaders-to-choose-economic-path-at-high-pressure-third-plenum" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

China's leaders to choose economic path at high-pressure third plenum

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Loctek has plans to delve further. In June 2023, Loctek launched a capital raising plan to raise up to RMB 500 million, with RMB 400 million (USD 54.9 million) earmarked for constructing an overseas warehouse project in Ellabell, Georgia. By the end of 2027, after the project reaches full production, the total area of public overseas warehouses in the US is expected to reach 339,300 square meters.
Additionally, as Loctek's ship began operation last year, the ship leasing business generated RMB 7 million (USD 962,000) in revenue in the first half of 2023. The container ship's transport cycle from Ningbo to the US west coast is only 15 days, half the time taken by large liners.
Affected by the <a href="https://kr-asia.com/red-sea-crisis-shipping-costs-skyrocket-dealing-setback-to-cross-border-sellers">situation in the Red Sea</a>, global shipping prices have continued to soar. Loctek's decision to build a ship amid soaring shipping prices in 2022 was controversial, but now the bet appears to have paid off.
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Currently, Loctek is gradually transforming into a provider of logistics and supply chain management solutions, integrating overseas warehousing, first-mile shipping, dropshipping, FBA transfer, after-sales management, export agency, and supply chain services. In the future, Loctek plans to further integrate freight forwarding to enhance its bargaining power while exploring end-to-end shipping services.
Henglin and Loctek, both long-time export enterprises, have shipped countless goods out of the port in Ningbo. As the era's dividends approach zero, the cost of a complete turnaround is too high. Instead, both companies, through upstream and downstream integration, continue to navigate the changing business landscape with agility.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2843825967516297">article</a> was written by Leslie Zhang for 36Kr.

China’s furniture makers tread new waters amid global market changes

E-commerce

Logistics

Retail

Consumer Economy

… the company’s high requirements for construction, acceptance, and brand elements often led to conflicts with franchisees. "The process is long, and conflicts are frequent. Sometimes, after establishing one station, there is no follow-up."
As of July 3, Li Auto had built 616 ultra-fast charging stations. With 2024 half over, only one-third of the over 2,000 stations planned for this year have been completed. Similarly, the rush to catch up in intelligent driving has been nerve-wracking. In 2023, Li Auto began an intelligent driving blitzkrieg, but due to late investment, it took nearly half a year to update its technical roadmap, only starting to advance its urban intelligent driving solutions without high-precision maps in the latter half of the year.
However, an insider revealed that Li was dissatisfied with this version's experience after the Lunar New Year and reprimanded the intelligent driving team in meetings, delaying the mass production timeline. Only recently, after re-evaluating the solution's effectiveness, did Li Auto increase efforts to push it to users.
To catch up with leading players, Li Auto is also betting on new solutions such as end-to-end large models, a trend led by Tesla. According to 36Kr, the intelligent driving team, led by Lang Xianpeng and consisting of over 300 people, has been developing this solution for more than two months, with results expected by the end of the year.
The effectiveness of this new solution remains unknown. Regardless, intensive closed-loop development has become the norm for Li Auto, and the overall direction is to play catch-up with increased technological investment. A mid-level manager told 36Kr that Li Auto now invests between 10–30% of its revenue into technology R&amp;D annually, depending on its earnings.
After the debacle with the Li Mega, Li Auto sought reprieve by retreating to the familiar territory of extended-range vehicles. Sales have gradually rebounded, and with the addition of the cheaper L6 extended-range model, Li Auto's June delivery volume has inched close to the peak performance of 50,000 units per month achieved toward the end of last year.
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As an ambitious company, Li Auto will undoubtedly make another push for higher sales. This time, however, making headway requires breaking into the pure EV segment, withstanding intense competition, and building deeper and more sustainable momentum.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2846191426194307">article</a> was written by Li Anqi for 36Kr.

Dragged into a slump by its MPV flop, what lessons has Li Auto learned?

li auto

Deals in brief: Kodifly secures first external funding, LongRiver Investments closes inaugural VC fund, Nami receives USD 10 million from Clime Capital, and more

Vietnam

Oceania

New entrants continue to shake up China’s coffee market, with Loong Coffee the latest to make a splash. According to 36Kr, the Beijing-based specialty coffee brand has secured tens of millions of RMB in its first financing round, although the investors remain undisclosed.
Founded in 2024, Loong Coffee distinguishes itself by serving Chinese-style black coffee. This approach bucks the current trend of milk-infused and flavored coffees, emphasizing the pure, unadulterated taste of high-quality coffee beans.
Much like the evolving tea market, which has seen a shift toward health-conscious choices, the coffee market in China is experiencing rapid growth. A recent industry report highlights that average annual per capita coffee consumption in China surged from six cups in 2016 to 16.74 cups in 2023. This increase coincides with a growing demand for specialty coffee, as consumers seek both affordability and quality.
Ready-to-drink black coffee is also gaining traction. Kantar Worldpanel reported that sales in this segment grew by 7.2% in 2023, with black coffee sales alone soaring by 31.6%, reflecting a broader trend toward health-conscious consumption.
"The Chinese coffee market is vast, with room to grow tenfold. We believe there are still opportunities with the right brand positioning," said Zhu Zhengwei, co-founder of Loong Coffee. Accordingly, the company is aiming to make specialty coffee more accessible and affordable.
Shanghai, China's most mature coffee market, is home to over 9,500 coffee shops. Brands like Manner Coffee and Luckin Coffee, known for their high-quality yet cost-effective offerings, are thriving. Saturnbird Coffee, with its premium ready-to-drink black coffee, also represents this burgeoning trend.
According to Zhu, the landscape of coffee consumption in China has evolved significantly. Before 2018, instant coffee dominated, with limited Starbucks stores based mostly in first- and second-tier cities. From 2019 to 2023, milk coffee became mainstream, reaching even county-level markets. Now, more advanced consumers are seeking better flavors and functionality, with black coffee steadily gaining market share.
Loong Coffee’s grassroots research indicates that coffee shops have been replacing milk tea shops in recent years, especially near schools. In economically developed areas like Beijing and Shanghai, black coffee sales in college-area coffee shops can reach nearly 30%.
Loong Coffee aims to be the "basic model" of coffee, akin to Uniqlo in the apparel industry, offering products made with top-notch materials at affordable prices. Its strategy revolves around small, efficient stores. Its first store in Chaoyang, Beijing, is just 20 square meters in size.
The brand offers a diverse range of products, including the basic black coffee series with options like "Dianxia Americano" and "Amber Americano," the Loong blend series, and an oriental cold brew series. Additionally, innovative offerings like candied fruit and jasmine-flavored black coffee, as well as limited-edition blends like lychee with “Da Hong Pao” and ginseng with pomegranate, cater to local tastes. Loong Coffee has also launched buffalo sauce lattes and croissants to provide a richer flavor and nutritional profile.
<figure id="attachment_149095" aria-describedby="caption-attachment-149095" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-149095" src="https://console.kr-asia.com/wp-content/uploads/2024/07/Loong-Coffee-Interior-1024x683.jpg" alt="Photo of a Loong Coffee store’s interior." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2024/07/Loong-Coffee-Interior-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/07/Loong-Coffee-Interior-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/07/Loong-Coffee-Interior-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/07/Loong-Coffee-Interior.jpg 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-149095" class="wp-caption-text">Photo of a Loong Coffee store’s interior. Photo and header image courtesy of Loong Coffee.</figcaption></figure>
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The brand's first store near Beijing's 798 Art Zone targets white-collar workers and offers a membership system with prices ranging from RMB 7.9–19.9 (USD 1.1–2.7) per cup. Most products are priced below RMB 14.9 (USD 2), with various membership benefits driving a 30% repurchase rate and over 70% repurchase consumption.
Loong Coffee’s branding centers on a dragon symbol, with storefronts featuring traditional Chinese architecture in red and interiors in simple black. The small store model prioritizes quick take-out service.
Looking ahead, Loong Coffee plans to expand into gym and food truck models. Zhu emphasizes that the success of a coffee brand is also a victory for local culture. "Loong" signifies "continuous improvement," reflecting Eastern philosophy.
Through its quality black coffee, Loong Coffee aspires to showcase modern Chinese culture.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2725655440270593">article</a> was written by Yang Yafei for 36Kr.

This brand aims to captivate consumers with Chinese-style black coffee blends

Coffee

… having a gigantic position [shorting the yuan]. So everyone has a little bit of a position to express their view," Liu said. China's incentive and ability to defend the currency remain "very strong," she said. But she also cautions that potential tariff policies brought by US election could put headwinds on the currency.
"There is an orderly weakening in the currency," said Owen Murfin, institutional portfolio manager at US asset manager MFS. "I think it's justified by fundamentals, it helps exporters. So I don't think authorities will be too concerned about an orderly devaluation of the [yuan], which is another reason why we are pretty defensive on the [yuan] right now."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/Market-Spotlight/Weakening-yuan-could-be-what-China-needs-but-not-what-it-wants" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Weakening yuan could be what China needs, but not what it wants

… href="https://kr-asia.com/kejora-capital-and-sbi-holdings-launch-usd-30-million-fund">Kejora-SBI Orbit Fund</a>.</li>
<li aria-level="1">Energi Selalu Baru (ESB), a subsidiary of <a href="https://www.nfcindonesia.id/">NFC Indonesia (NFCX)</a>, secured an undisclosed sum from LX Ventures and SAIC Capital in its pre-Series A funding round.</li>
<li aria-level="1">Saison International, the international arm of Credit Saison, has made its first foray into Mongolia with a USD 14 million investment through Golomt Bank and M Bank. This investment will be managed by Saison Investment Management Private Limited (SIMPL).</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.

Deals in brief: The Gentle Group bags SGD 2 million, DealCart raises seed funding, 11 China deals, and more