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… residences."
<a title="" href="https://asia.nikkei.com/Economy/Analysts-call-for-stimulus-as-2024-Thai-growth-comes-in-at-2.5" target="_blank" rel="noopener">With Thailand's high household debt</a> weighing on the mass segment—the number of transactions fell 5.2% in 2024 from a year earlier overall and the value dropped 6.3%, local developers are increasingly pivoting to the luxury market. During its earnings briefing in February, Sansiri president Uthai Uthaisangsuk said the company sees most demand in the premium segment.
Companies have also been courting non-hotel brands, capitalizing on their deep-rooted customer loyalty. In October 2024, Raimon Land announced a partnership with French crystal maker Baccarat to build an ultra-exclusive residence in central Bangkok, with just four estates priced from THB 880 million (USD 25.1 million).
One of the most talked-about projects in the country is Porsche's residential tower in Bangkok's upscale Thong Lo area. Slated to complete in 2028, the 95-meter-high tower will comprise 22 units priced USD 15–40 million. The residence, which has already garnered interested buyers, is the first in the region after similar initiatives in Miami and Stuttgart.
"There's a lot of interesting opportunities right now, especially in Asia," Porsche Lifestyle Group CEO Stefan Buescher told Nikkei. He highlighted Thailand's appeal, citing the country's "incredibly vibrant" community of Porsche collectors and the relative ease of acquiring land <a title="" href="https://asia.nikkei.com/Business/Travel-Leisure/Tokyo-s-central-business-district-grows-into-hotel-hot-spot" target="_blank" rel="noopener">compared to markets like Tokyo</a>.
Buescher noted that the tower's design has also taken in requests from fans, including a spiral ramp for cars located in the middle of the building, leading directly to customizable garages for owners. "For them, money isn't the issue—it's all about the experience," Buescher said, adding that the company is now exploring additional projects in Southeast Asia.
Even as Thailand has long been the region's branded residence hub, clusters are emerging elsewhere on the back of rapid economic growth. C9 Hotelworks data shows Vietnam, when including those in the pipeline, tops the region with 17,680 units, while the Philippines is catching up rapidly.
Nobu Hospitality, the Japanese restaurant and hotel chain, partnered with Viet Capital Real Estate to build a hotel and residential project in Vietnam's central beach resort of Danang, its first resort in Southeast Asia. Slated to complete by 2027, the 43-story beachfront tower will have 264 residential units and 200 guest rooms.
Adelina Wong Ettelson, global head of residences marketing at Mandarin Oriental, said the group is planning to quadruple its dozen residential portfolios to 50 projects globally by 2033, including properties in Danang and Bai Nom in Vietnam, as well as one on the Indonesian resort island of Bali. "As a brand, when you compare us with others, it is really critical for us to be here [in Southeast Asia]," she said.
According to Knight Frank, prime residential price growth in Manila outpaced the region in 2024, rising 17.9% from the previous year, driven by strong demand from both locals and foreigners. The city outperformed Singapore and Bangkok at 3.6% and 1.4%, respectively. Banyan Group is building a luxury residence in Manila, its first in the Philippines.
Yet, industry players warn that buyers must also conduct due diligence on developers and management contracts, especially as first-time buyers tend to feel easily assured by the brand name. There are risks that brand owners might suddenly pull out if developers fail to adequately fund the management and maintenance of facilities.
"Not every developer gives an informed choice," said Jason Thelen, senior director of sales and marketing at Sudara Residences, noting that some projects have switched management even before construction has been completed. "Phuket is fairly good on the scale of Southeast Asian destinations, but some markets are known for more predatory practices than others."
Barnett of C9 Hotelworks said he is starting to see more "speculative" developments coming into some markets like Bali and Phuket. "I know we're at the top of the cycle when I see developers promising 10–15% annual returns," Barnett said. "That's not sustainable."
This article first appeared on <a href="https://asia.nikkei.com/Spotlight/ASEAN-Money/Southeast-Asia-s-luxury-real-estate-market-sizzles-as-rich-move-in">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Southeast Asia's luxury real estate market sizzles as rich move in

Thailand

… Wang. Meituan hasn’t abandoned Youxuan, either. It remains a pillar of the company’s grocery ambitions, with the team focusing on key regions, moving away from white-label goods, and trying to raise product quality while keeping prices low—a strategy meant to carve out a different identity from competitors like Duoduo Maicai.
Still, the idea of simply “losing less money” no longer captures attention. Meituan’s international expansion is what’s now turning heads—and drawing scrutiny.
Keeta, its overseas delivery brand, is already reshaping the Hong Kong market. Deliveroo, one of the city’s three major food delivery apps, recently announced it will exit on April 7. The move comes after Keeta stormed to the top of the market within a year by focusing on office zones and rolling out steep subsidies.
Keeta officially <a href="https://kr-asia.com/meituans-keeta-launches-in-saudi-arabia-igniting-competition-and-price-hikes">entered Saudi Arabia in Q4</a> and now operates in all major cities across the country. A Morgan Stanley report says it has already grabbed about 10% of the market.
One Riyadh-based user noted food delivery has become “a lot better” since Keeta arrived. From launch, Keeta offered not only discounts but also compensation guarantees pegged to delivery time—applying pressure on incumbents like HungerStation and Jahez to step up their own promotions.
Beyond Saudi Arabia, the terrain gets trickier. In the UAE, Kuwait, and Qatar, platforms like Talabat hold more than 50%—and in some places, over 70%—of the market.
whereRelatedArticle
While food delivery leads Meituan’s international agenda, it’s not the only export. Shangou and Xiaoxiang Supermarket are also testing overseas waters, though in smaller roles for now. Wang reiterated that food delivery will remain the focus abroad, at least for the near term.
If global expansion is driven by opportunity, the AI race comes with a tinge of existential urgency.
Multiple insiders described Meituan’s current approach to AI as “all in.” Teams are running internal pilots, launching open days, forming discussion groups, and racing to adapt. On the earnings call, Wang outlined Meituan’s AI playbook for the first time:
<ul>
<li aria-level="1">Embed AI into everyday workflows and operations.</li>
<li aria-level="1">Build AI-native products—not just AI-enhanced tools, but services built from scratch.</li>
<li aria-level="1">Develop an in-house large language model.</li>
</ul>
That model, dubbed “LongCat,” is already running across Meituan’s ecosystem.
Signs of AI are cropping up everywhere. Shenqiangshou now bears a label noting it uses the DeepSeek-R1 model to curate food delivery choices. Food listings show AI-generated tags describing portion sizes, flavors, and more.
“Every team is doing something—whether it’s user engagement, AI-generated summaries, or recommendation logic,” a Meituan staffer said. “But most of it hasn’t had a real impact yet. We’re doing it to stay relevant.”
Wang summed up the mood:
<blockquote>“We’re both excited and scared by what we see happening right now.”</blockquote>
For a company that rose with the mobile internet era, keeping up with the AI wave—and staying in the room where the next wave of decisions is being made—may be its toughest challenge yet.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3217400365403012">article</a> was written by Ren Cairu for 36Kr.

Meituan’s next act: AI bets, global reach, and a retooled business model

Xiaoxiang Supermarket

Keeta

East Asia

On-demand Services

E-commerce

Logistics

Food Delivery

Grocery Delivery

Retail

Consumer Services

Saudi Arabia

Hong Kong

… Topolino, a modern interpretation of the two-seater Fiat 500 that graced Europe’s urban roads for much of the 20th century." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Fiat-500-Topolino-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Fiat-500-Topolino-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Fiat-500-Topolino-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Fiat-500-Topolino.jpg 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152196" class="wp-caption-text">Photo of the Topolino, a modern interpretation of the two-seater Fiat 500 that graced Europe’s urban roads for much of the 20th century. Photo source: Fiat.</figcaption></figure>
However, NEVs face stiff competition not just from Chinese rivals, but also from established European microcars that benefit from legal recognition and ingrained consumer habits. With legacy automakers now investing in the segment, Chinese NEV makers may struggle to sustain long-term success abroad.
<h3>The challenge of going global</h3>
While demand for NEVs is rising, Chinese manufacturers face growing competition—not just from fellow Chinese exporters, but from European brands with stronger legal standing and long-established consumer trust.
A recent industry report estimated that in 2023, the global NEV market was valued at approximately RMB 62.64 billion (USD 8.8 billion) and is projected to reach RMB 79.45 billion (USD 11.1 billion) by 2029, growing at a compound annual rate of 3.3%.
According to QYResearch, Europe has long dominated the global four-wheeled EV market, accounting for 56.3% of global revenue as early as 2019. A Chinese manufacturer told 36Kr that while Europe has always been a key market, many Chinese firms were slow to expand overseas. But after national NEV regulations tightened in 2023, limiting domestic road access and sales, companies began aggressively targeting international markets.
Despite fewer regulatory barriers in the EU compared to China, exported NEVs must still meet minimum safety standards, including seat belts, windshield wipers, and headlights. Many vehicles require modifications before they can comply with European safety regulations, as China’s domestic NEV market has long lacked uniform standards.
For now, most Chinese NEV manufacturers produce vehicles domestically and assemble them overseas for international sales. Distribution is largely handled by foreign partners, who take an average 5% cut of the retail price.
Beyond Europe, some Chinese companies are also targeting emerging markets with fewer regulations. Levdeo, for instance, partnered with an Ethiopian company to export thousands of NEVs to Africa, where, like in Europe, the target customers are budget-conscious young drivers.
Despite the initial enthusiasm in overseas markets, long-term success is far from guaranteed. NEVs remain budget vehicles, which makes them highly competitive but difficult to sustain as a long-term business.
China’s manufacturing advantage is undeniable, but price alone isn’t enough to ensure success abroad. While NEVs may enjoy a surge in popularity in Europe and other international markets, their future in the global automotive landscape remains uncertain.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3195622317440648">article</a> was written by Yuan Silai for 36Kr.

China’s micro EVs are filling Europe’s streets—but for how long?

Transportation

Electric Vehicles

Mobility

… additional USD 2.7 million in debt financing to expand its loan book. The company expects to receive its license from the Saudi Central Bank by Q2 2025, when it will formally launch operations.
<h3>Motion Ventures eyes USD 100 million for second maritime tech fund</h3>
Motion Ventures, a venture capital firm based in Singapore, has launched its second fund with a USD 100 million target—potentially the largest venture fund globally focused on maritime innovation. The firm plans to invest in up to 25 startups developing both hardware and software to modernize port logistics, vessel operations, and sustainability.
The new fund builds on Motion Ventures’ first portfolio, which includes more than 30 companies and two profitable exits. Early investments from the second fund include OceanScore and Fernride.
<figure id="attachment_152307" aria-describedby="caption-attachment-152307" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152307" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Motion-Ventures-Team-1024x683.jpg" alt="Photo of Motion Ventures’ team." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Motion-Ventures-Team-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Motion-Ventures-Team-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Motion-Ventures-Team-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Motion-Ventures-Team-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Motion-Ventures-Team.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152307" class="wp-caption-text">Photo of Motion Ventures’ team, courtesy of the company.</figcaption></figure>
<h3>Venturi Partners targets USD 225 million to back Asia’s consumer brands</h3>
Venturi Partners, a growth-stage investment firm headquartered in Singapore, is raising a second fund of up to USD 250 million, with a target of USD 225 million and a first close expected in Q2 2025. The firm has visibility on commitments totaling around USD 130 million.
Venturi will continue investing in growth-stage consumer companies across India and Southeast Asia, especially in verticals like healthcare, retail, education, and fast-moving consumer goods. Its first fund raised USD 180 million and backed startups including Livspace, Country Delight, and Believe.
whereRelatedArticle
<h3>Grab, Kyberlife, Fore Coffee, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Grab, the Singapore-based tech giant, reportedly began due diligence on Indonesian rival GoTo Group, signaling early interest in a possible acquisition. But a transaction is far from certain, as it would hinge on regulatory approval and agreement on deal terms.</li>
<li aria-level="1">Kyberlife, a Singapore-based health tech startup, raised USD 3 million in an investment round led by 5I Ventures, with participation from East Ventures, A2D Ventures, and NUS Alumni Ventures.</li>
<li aria-level="1">Fore Coffee, an Indonesian coffee chain, is preparing for an IPO on the Indonesia Stock Exchange, aiming to raise up to IDR 379.76 billion (USD 23 million).</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>.
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Deals in brief: Gobi Partners backs Funding Societies, Vietnam’s Stride lands Series A funding, Vertex Ventures Japan makes debut fund close, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Indonesia

Philippines

… appeared on <a href="https://asia.nikkei.com/Business/Business-trends/Japan-s-malls-eye-killer-tenants-from-Asia-and-beyond">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Japan's malls eye "killer" tenants from Asia and beyond

… option is to earn money in international markets. We can only thrive in open economies.”</blockquote>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3193591852498305">article</a> was written by He Zhexin for 36Kr.

Uniqlo finds its groove in the West after years of trial and error

Fashion

Creative

Heytea has introduced its first certified antibiotic-free and hormone-free milk, marking a significant milestone in its dairy innovation efforts. The new milk is now a staple across Heytea’s stores, integrated into its menu offerings.
Sourced from select high-quality dairy farms, the milk is made from 100% fresh cow’s milk and undergoes processing in a controlled, closed production system to ensure purity. It has also been rigorously tested by accredited institutions, including the China Anti-Doping Agency (CHINADA) under the General Administration of Sport, confirming that it contains no detectable traces of 69 types of antibiotics or 272 types of hormones.
Heytea has been deepening its involvement in dairy innovation for years. In 2023, it introduced a specialty high-protein milk designed specifically for “new style” tea beverages. This fresh milk contains 3.8 grams of protein per 100 milliliters—about 27% more than standard milk—making it comparable to premium pure milk available on the market. The product was first introduced in Heytea’s roasted brown sugar boba milk beverage. According to Yu Feng, vice president of Heytea’s supply chain, the formulation underwent six months of testing and adjustments to achieve a natural, well-rounded taste.
Building on that foundation, Heytea launched a low-fat version of the specialty milk in 2024. Unlike conventional skim milk, this variant retains more of the natural sweetness and richness of whole milk. Now, the company is taking an even bigger step with the launch of its antibiotic-free and hormone-free milk, setting a new benchmark for purity in the industry.
The development of this new product is the result of Heytea’s collaboration with the National Engineering Research Center of Dairy Health for Maternal and Child, which operates China’s first dedicated dairy innovation hub established by Heytea and the research center. It is reportedly the first milk product in the industry to receive official antibiotic-free and hormone-free certification. Looking ahead, Heytea and its research partners plan to continue developing dairy ingredients specifically tailored for tea beverages.
Heytea is also strengthening its presence in dairy farming and milk production. The company has partnered with Sanyuan to establish a certified antibiotic- and hormone-free dairy farm, which includes a self-operated alfalfa plantation spanning thousands of acres. Each batch of feed undergoes strict quality testing, and even the cows’ drinking water must pass 37 specialized quality assessments.
Heytea and Sanyuan have also developed a “purity factory” to uphold the highest production standards. Freshly extracted raw milk is rapidly cooled to below 4 degrees Celsius before being transported under controlled temperatures to nearby processing facilities. The dairy product is produced in a fully enclosed clean production line, which is meticulously sanitized before every production cycle. Additionally, the factory employs a three-stage sensory evaluation system in which trained experts taste-test the milk at key points throughout production, including raw milk acceptance, in-factory processing, and final product assessment.
Heytea’s increasing investment in dairy sourcing and production reflects a broader shift in China’s competitive freshly made tea market. Beyond store expansion and scale, supply chain depth and ingredient control are becoming key differentiators.
A crucial part of Heytea’s competitive edge lies in its use of customized raw ingredients. According to the company, nearly 100% of its core ingredients—including dairy products—are exclusively developed for Heytea. This makes it the contemporary tea brand with the highest proportion of proprietary ingredients in the market.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3212987524352896">article</a> was written by Yang Yafei for 36Kr.

Heytea’s latest innovation? The cleanest milk in China’s tea market

On March 19, <a href="/company/tencent">Tencent</a> released its financial results for the fourth quarter and full year of 2024. The company reported an 11% year-on-year (YoY) revenue increase in Q4, reaching RMB 172.45 billion (USD 24.1 billion), surpassing market expectations of RMB 168.74 billion (USD 23.6 billion). For the full year, Tencent’s revenue rose 8% to RMB 660.3 billion (USD 92.4 billion).
Gross profit for Q4 climbed 17% YoY to RMB 90.7 billion (USD 12.7 billion), driven by high-margin revenue sources such as <a href="/industry/gaming">gaming</a>, search, and WeChat Channels, as well as improved cost efficiency in cloud services. The company’s gross profit margin expanded from 50% to 53% YoY. Cost of revenue increased 5% to RMB 81.7 billion (USD 11.4 billion), primarily due to rising content costs from gaming and higher bandwidth and server expenses.
Tencent attributed its double-digit Q4 revenue growth to artificial intelligence-powered upgrades in its advertising platform, increased user engagement in WeChat Channels, and the continued success of its core gaming titles. In recent months, the company restructured its AI team to focus on product innovation and AI model development while increasing capital expenditure on AI and AI-native product marketing.
Revenue from Tencent’s value-added services segment rose 14% YoY in Q4 to RMB 79 billion (USD 11 billion). International gaming revenue grew 15% to RMB 16 billion (USD 2.2 billion), or 16% on a constant currency basis, bolstered by strong performances from Brawl Stars, PUBG Mobile, and the early access launch of Path of Exile 2.
Tencent’s domestic gaming revenue surged 23% to RMB 33.2 billion (USD 4.6 billion), benefiting from a low base in the prior year, higher revenue from Honor of Kings, Game for Peace, and Valorant, and contributions from newly launched titles such as Dungeon &amp; Fighter: Origins and Delta Force.
Social networking revenue rose 6% to RMB 29.8 billion (USD 4.2 billion), driven by increased sales of virtual items in mobile games, growth in paid music subscriptions, and rising service fees from minigames on WeChat.
Advertising services revenue jumped 17% to RMB 35 billion (USD 4.9 billion), reflecting strong demand for ad placements on WeChat. Most major industries increased their advertising spend during the quarter.
Fintech and business services revenue increased 3% to RMB 56.1 billion (USD 7.9 billion), with fintech growth driven by wealth management and consumer lending, while commercial payment revenue remained largely stable. Business services revenue rose due to higher technology service fees from merchants and increased revenue from WeCom.
For full-year 2024, Tencent’s value-added services revenue grew 7% to RMB 319.2 billion (USD 44.7 billion). International gaming revenue reached RMB 58 billion (USD 8.1 billion), up 9% YoY in both reported and constant currency terms, supported by PUBG Mobile and Supercell’s titles. Domestic gaming revenue grew 10% to RMB 139.7 billion (USD 19.6 billion), driven by Valorant, Naruto, Teamfight Tactics, League of Legends: Wild Rift, and new contributions from Dungeon &amp; Fighter: Origins and Delta Force. Tencent increased its number of evergreen games from 12 in 2023 to 14 in 2024, reflecting the longevity of its major titles.
Social networking revenue rose 2% to RMB 121.5 billion (USD 17 billion), supported by increased revenue from paid music and long-form video subscriptions, higher sales of virtual items in mobile games, and minigame service fees. These gains were partially offset by declining live streaming revenue from music and gaming. Tencent Video’s paid subscriber count reached 113 million, while Tencent Music’s paid user base grew to 121 million. Tencent Video operates internationally as WeTV.
Advertising services revenue climbed 20% to RMB 121.4 billion (USD 17 billion), fueled by strong demand for ad placements across WeChat and Tencent’s AI-driven ad platform upgrades. Ad spending rose across most major sectors, particularly gaming, e-commerce, education, and internet services.
Fintech and business services revenue increased 4% to RMB 212 billion (USD 29.7 billion), supported by growth in wealth management and commercial payments. Business services revenue rose due to higher WeCom revenue and increased technology service fees from merchants.
Tencent’s annual cost of revenue declined 2% to RMB 311.1 billion (USD 43.6 billion) as the company reduced expenses related to live streaming revenue-sharing, long-form video content, and cloud project deployment.
Gross profit rose 19% YoY to RMB 349.2 billion (USD 48.9 billion), supported by growth in high-margin revenue streams such as domestic gaming, search, minigames, and WeChat Channels. Profitability also improved in Tencent’s cloud and long-form video businesses, with the company’s gross margin expanding from 48% in 2023 to 53% in 2024.
For value-added services, gross profit grew 12% to RMB 181.7 billion (USD 25.4 billion), with a margin increase from 54% to 57%, supported by higher-margin domestic gaming and minigame service fee revenue, along with cost optimization in long-form video content.
Gross profit for advertising services surged 31% to RMB 67.2 billion (USD 9.4 billion), with a margin increase from 51% to 55%, reflecting the expansion of high-margin ad placements in WeChat Channels and Tencent’s search platform.
Fintech and business services gross profit climbed 24% to RMB 99.7 billion (USD 14 billion), with a margin improvement from 40% to 47%, aided by growth in wealth management, WeCom, and merchant technology service fees, as well as cost efficiencies in cloud services.
Sales and marketing expenses rose 6% YoY to RMB 36.4 billion (USD 5.1 billion), reflecting increased promotional efforts for new content releases. These expenses remained stable at 6% of total revenue.
General and administrative expenses grew 9% to RMB 112.7 billion (USD 15.8 billion), primarily due to increased R&amp;D spending, particularly on AI initiatives, and higher employee costs. These expenses remained steady at 17% of total revenue.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3212952228646019">article</a> was written by Wang Yuchan for 36Kr.

Tencent surpasses Q4 2024 revenue forecasts with gaming and ad growth

Tencent

WeChat

On March 18, Chery hosted a conference in Wuhu, Anhui, unveiling advancements in smart driving, humanoid robotics, and intelligent cockpit systems. At the center of the event was Falcon, the company's next-generation smart driving system, which Chery plans to implement across all its brands and models by 2025.
According to Gao Xinhua, executive vice president of Chery, Falcon's intelligence stems from an end-to-end large model and sensor fusion technology, enabling precise environmental perception and millisecond-level decision-making. The result? A smart driving assistant designed to handle an extensive range of real-world scenarios.
The system is structured into three tiers:
<ul>
<li aria-level="1">Falcon 500, which integrates an artificial intelligence-powered driving system with navigation-on-pilot (NOP), memory-based urban navigation, and automated memory parking.</li>
<li aria-level="1">Falcon 700, which expands on the 500’s features with increased computing power, supporting highway and urban navigate-on-autopilot (NOA), valet parking, and vehicle-to-vehicle communication.</li>
<li aria-level="1">Falcon 900, the most advanced version, leverages vision-language-action (VLA) and world models to enable Level 3 autonomous driving, enabling a more refined hands-free experience.</li>
</ul>
To demonstrate Falcon’s capabilities, Chery deployed a fleet of self-driving vehicles, which successfully crossed the Baishazhou Yangtze River Bridge in full NOP-assisted mode, with no human intervention.
Chery is expanding its smart driving technology across its vehicle lineup. By the end of 2025, more than 30 models, including fuel-powered, hybrid, extended-range, and pure electric vehicles, will integrate the Falcon smart driving system. The system is being developed concurrently for international markets to facilitate broader adoption.
The smart edition of the Chery eQ1 highlights the application of smart driving in entry-level EVs, offering autonomous parking, remote parking, and highway NOA navigation at a price point of RMB 60,000 (USD 8,400).
According to Chery, Falcon’s autonomous driving capabilities have been adapted to accommodate varied driving conditions, including European roundabouts, Middle Eastern desert highways, and densely populated roads in Southeast Asia. The company has also obtained European Union certifications for vehicle cybersecurity and over-the-air software updates. Its fleet has collectively logged 4.5 billion kilometers in autonomous driving. By 2026, Chery plans to introduce higher-level autonomous vehicles to the European market.
Flagship models will lead the rollout. The Exeed Sterra ET (marketed internationally as Exeed Exlantix ET) will come standard with Falcon 700, equipped with 30 sensors and dual Nvidia Drive Orin chips. The iCar V23 will feature Falcon 500, supporting highway NOA and autonomous parking via a 22-sensor array, while the Tiggo 9, a fuel-powered SUV, will also integrate Falcon 500.
Chery has also extended Falcon’s smart driving capabilities to off-road environments, complementing its highway and urban navigation functions. The system is designed to operate beyond paved roads, supporting point-to-point navigation across varying terrains.
Beyond smart driving, Chery is developing robotics, flying cars, robotaxi services, and unmanned minibuses, reflecting its focus on AI-driven mobility solutions.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3213298432035713">article</a> was written by Han Yongchang for 36Kr.

Chery unveils Falcon smart driving system, set to power 30 models by 2025

Autonomous Vehicles