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… Chinese supermarket chain. In an interview at the end of 2023, Aldi’s China managing director Roman Rasinger shared the company’s philosophy of  aiming to meet consumers’ daily needs, while also offering special items that help them enjoy life.
Zoe’s company has also been part of the industry-wide shift from hypermarkets to premium supermarkets. In 2024, they studied Aldi in depth and compiled a report running into tens of thousands of words. The takeaway? “There’s plenty to learn from Aldi’s product structure, supply chain strategy, and marketing approach.” Among these, its quirky and clever marketing stood out.
In mid-2024, Aldi plastered recruitment ads across Shanghai’s metro stations that doubled as a flex of its sourcing and pricing rigor. Job descriptions called for category buyers who could “run between hemispheres, have six arms, know products, and drive a hard bargain,” and for quality inspectors who were “picky, inquisitive about suppliers, streetsmart, and detail-oriented enough to run 30-point inspections.”
An advertising professional jokingly commented on social media: “Looks like a job ad, but it’s actually a quality-control and pricing boast.” Aldi even put the ads on shuttle buses that circled Hema stores, drawing social media banter about its in-your-face strategy.
In truth, Aldi in China is no longer the same as its German parent, nor is it the same company that first entered the Chinese market.
Chen recalled a pre-pandemic conversation with Aldi’s China executives, where she was told that the barebones, discount-first model used in Germany wouldn’t thrive in China. Instead, they hoped to build a more elevated supermarket experience. She remembers thinking at the time that “Aldi is actually quite similar to Hema.”
But much has changed in China’s consumer landscape since then. The middle class has grown more frugal, and few people are still willing to pay extra for brand names alone. The idea of value-for-money has emerged as the most unshakable consumer priority.
Sam’s Club uses a metric called “member value” to assess its products—measuring how much cheaper a product is, at the same quality and size, compared to the market average. Store associates love to highlight this figure when introducing items to customers.
Faced with competition from Sam’s Club and Pangdonglai, traditional hypermarkets in China have had no choice but to adapt. Aldi, with its regional focus and small footprint, managed to pivot quickly.
In 2023, it launched a price war by heavily promoting low prices in stores, plastering signs  all over about getting great quality goods at better prices. By 2024, hundreds of RMB 9.9 items had made their debut, and the number of discounted products kept climbing.
Looking back, Aldi might not offer the absolute best quality, but its lean SKU strategy, reliable private labels, and price competitiveness align it with Sam’s Club and Costco in some surprising ways. As more people make the comparison online, some even joke that “Aldi has become the imaginary rival of Sam’s Club.”
Sam’s Club and Costco will likely remain the go-to choices for large-pack, stock-up shopping. But when it comes to fast, convenient top-ups, Aldi might start pulling customers away from Sam’s Club’s rapid delivery and Costco’s local fulfillment services.
Aldi’s appeal—small packs, unique items, affordability, and trust—is now what large-format retailers are racing to emulate.
Chen isn’t swayed by Yonghui Superstores’ transformation, saying she’s already satisfied with her current shopping options. Arya recently told a friend:
<blockquote>“As long as Aldi doesn’t screw it up, I’m not going back to traditional supermarkets.”</blockquote>
If Aldi’s expansion proceeds smoothly, it could truly disrupt the legacy players that are still struggling to stay relevant.
In Shanghai, Aldi has nailed the positioning of being a low-cost, everyday counterpart to the membership warehouse model. The community supermarket trend is also gaining momentum—Hema is experimenting with a new format called Hema Neighborhood (NB). In an internal letter at the end of 2024, Hema CEO Yan Xiaolei said the company would focus on two main formats: Hema Fresh and Hema NB.
Holding ground in China’s most competitive market already says a lot about Aldi’s strength. But the flip side is that Shanghai’s demand is also uniquely high—offline players like Xiaoxiang Supermarket and Dingdong Maicai all have space to grow. “Aldi only has a firm grasp on Shanghai’s preferences,” said Zoe. “What happens when it enters Beijing?” Its heavy reliance on the Jiangsu–Zhejiang–Shanghai supply chain could become a hurdle in local expansion.
Beyond geographic growth, profitability is also a pressing concern. According to a note from Meritco, by the final quarter of 2024, Aldi’s stores had generated around RMB 2.5 billion (USD 350 million) in revenue, showing an upward trend. Still, only a handful of stores were profitable. Store-level metrics—sales, traffic, and number of profitable locations—are reportedly key performance indicators for Aldi’s China execs.
Wider regional reach, dark stores, and e-commerce are all part of the roadmap ahead—but they also come with uncertainty. Aldi itself called 2024 a year of “opening up.” It opened 14 new stores, expanded from Shanghai proper to its suburbs, and announced plans to enter Suzhou and Wuxi in 2025.
That’s still far from its earlier ambition to open 500–600 stores in Shanghai alone, a goal it laid out in 2022. But in China’s fiercely competitive retail sector, Aldi has carved out a niche.  “As long as it maintains patience and standards,” said Zoe, “profitability is just a matter of time.”
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3224450010463616">article</a> was written by Ren Cairu for 36Kr.

Aldi’s supermarkets have Chinese shoppers hooked—now it wants more

Retail

Consumer Services

China

The Tokyo Stock Exchange (TSE) has begun requiring companies listed on its top-tier "Prime" section of the market to disclose key financial information both in Japanese and English. The move, which took effect on April 1, is aimed at creating a level playing-field between domestic and overseas investors.
Some 1,600 or so Prime-listed companies are now required to disclose financial results in both Japanese and English at the same time. The rule also applies to information that may have a material effect on investment decisions, such as revisions to earnings forecasts, mergers and acquisitions and changes to representative directors.
"The Prime market is a global market. We have decided to mandate English disclosure from the perspective of attracting more overseas investors," Sayuri Nakamura at the TSE's listing department told Nikkei Asia.
Disclosure in English is part of a broader trend among non-English speaking countries in Asia. The Taiwan Stock Exchange, for instance, mandated that all listed companies disclose key information, which is equivalent to Japan's timely disclosure information, in English by 2024. In South Korea, large KOSPI-listed companies are now required to release material information in English within three days of Korean-language disclosures.
Foreign investors often feel they are at a disadvantage when key documents are released only in local languages.
According to a survey released by the TSE in August 2023, 72% of overseas investors responded that they were "somewhat dissatisfied" or "dissatisfied" on Japanese companies' English disclosures. "Dissatisfaction mostly comes from the gap in the amount of information in Japanese and English, and also from the time lag of disclosure," said Nakamura.
The move is part of broader efforts by the TSE to bring the governance standards at Japan Inc. to international levels.
The TSE has introduced a series of measures to raise awareness among Japan's listed companies about their low stock market valuations, urging companies whose share prices are less than their book value to work harder to raise the valuations.
The efforts have been paying off, as the TSE now hears more overseas investors expressing high expectations for Japanese stocks. "We are also hearing securities firms saying that the tide is turning," said Natsumi Yamawaki, manager at the listing department at the TSE.
"The challenge is how to maintain positive attention to Japanese companies," Yamawaki said. "We encourage companies to engage with investors and create a cycle that will increase corporate value," she said. Her hope is to increase the number of "investors who are committed to companies with a medium- to long-term perspective."
Naomi Fink, chief global strategist at Nikko Asset Management, said TSE's request for English disclosure is "very consistent" with what has been already done. The TSE is "putting a large amount of emphasis on disclosure as a whole, and I see English disclosure as part of that."
"We already have quite a lot of overseas investment in Japanese stocks, and of all overseas investors, there's quite a few activist investors and those that are putting a lot of emphasis on corporate governance," Fink added.
"If there isn't transparent data, then you're less likely to invest overall. To increase transparency for all investors, especially overseas investors, I think English exposure is a big advantage.
As of the end of December 2024, 99% of listed companies on the Prime market already embraced English disclosure one way or the other, according to a survey by the TSE. However, only 59.2% of companies disclosed their timely disclosure materials in English, compared with 93.8% for financial results and 76.4% for IR presentation materials.
According to the TSE, some companies outsource their translation work, but insist that they need to check the translation for accuracy. Some companies say it is difficult to disclose materials in both languages simultaneously, because the materials are subject to review until the last minute.
Analysts say the question is whether the most relevant information is provided in both languages.
"It is important for companies to consider the introduction of English disclosure as an opportunity to find out which kind of information investors want," Atsushi Kamio, senior researcher at the Daiwa Institute of Research told Nikkei Asia. He thinks what matters is the disclosure of qualitative information which helps investors judge whether a company can make profits continuously.
This article first appeared on <a href="https://asia.nikkei.com/Business/Markets/Tokyo-exchange-to-mandate-English-disclosure-to-lure-overseas-investors">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>.

Tokyo exchange to mandate English disclosure to lure overseas investors

Venture Capital

Investment

Japan

… sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-151931" class="wp-caption-text">Photo of Nvidia CEO Jensen Huang, courtesy of the company.</figcaption></figure>
This shift will dramatically increase token usage. According to Huang, slow-thinking models can consume up to ten times more tokens than fast-thinking ones, with another tenfold increase in computational speed needed to maintain responsiveness and interactivity. Taken together, that could represent a 100-fold leap in compute demand.
It’s a daunting equation. But Cai’s challenges don’t stop there.
The trailer for Whispers from the Star hints repeatedly that Stella’s responses aren’t scripted in advance—they vary based on user input. Words, gestures, ambient lighting, environment—are all dynamically generated. That’s an immense technical load, with enormous demands on bandwidth and processing power.
This raises another thorny issue: local versus cloud-based computing. Relying solely on the player’s hardware would raise the system requirements and shrink the game’s potential audience. But leaning on the cloud invites latency issues and spiraling infrastructure costs.
Cai’s vision—a virtual world for a billion people—inevitably leans on centralized infrastructure. And if it’s his world, then he’s the one tasked with making it real.
Back in August 2024, he shared a series of provocative takes on AI’s role in game development, which boiled down to this:
<ul>
<li aria-level="1">AI has already reshaped how games are made, though its full impact will take time to unfold.</li>
<li aria-level="1">In the future, only two groups will matter in game creation: a small circle of visionaries capable of imagining unprecedented experiences, and a broad base of hobbyists making games for fun.</li>
<li aria-level="1">Everyone in between—amateurs to professionals—may need to rethink their careers, as AI renders their roles increasingly obsolete.</li>
</ul>
Cai clearly counts himself among the visionaries. And for the rest of the industry, Whispers from the Star is both game and experiment—an attempt to see whether AI can shift from backstage assistant to lead storyteller.
Whether it delivers or not, the attempt may sketch the outline of what’s next.
whereRelatedArticle
<h3>From the metaverse to something else entirely</h3>
Back in October 2021, at the annual Facebook Connect developers’ conference, Mark Zuckerberg made headlines by announcing Facebook’s rebranding to Meta—a pivot aimed at building the metaverse.
It was a utopian vision of Web3. “The defining quality of the metaverse will be a feeling of presence,” Zuckerberg said, “like you are right there with another person or in another place. Feeling truly present with another person is the ultimate dream of social technology.”
Fast forward three years, and Meta’s grand bet on the metaverse has turned into a money pit. In just one quarter, its Reality Labs division reported USD 4.5 billion in losses. Since its inception, the unit has racked up over USD 46 billion in losses (as of August 2024).
In today’s AI-powered computing boom, two paths are taking shape. Virtual reality looks to enhance the medium—upgrading how users sense and interact with digital spaces. AI, by contrast, is reshaping the content itself. The metaverse bubble may have popped, but figures like Cai haven’t let go of the push toward a new kind of internet.
The challenge is how to ground these expansive, generative experiences in technical and commercial reality. How do you move beyond Genshin Impact-style interactivity to something genuinely new? What can Web3 eventually look like? No one really has the answer yet.
As computer and smartphone makers rush to add memory and storage in anticipation of AI’s heavier demands, the path to realizing Cai’s dream still looks long and uncertain.
But if Whispers from the Star is any indication, Cai isn’t just waiting for the future to arrive. He’s trying to build it.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3232442300874373">article</a> was written by Liu Chongjiang for 36Kr.

Mihoyo’s CEO is back with a new game, and it’s nothing like Genshin Impact

Artificial Intelligence

Gaming

Deep Tech

Creative

… expertise.
But building industrial-grade humanoids isn’t cheap. Depending on the spec sheet—reach, payload, precision—units can range from five- to six-figure RMB sums.
Unitree has partly risen to prominence by pushing that ceiling down into the five-figure range. If humanoids are to become mass-market home products, affordability will be key.
Haier, in addition to partnering with Robotera, recently became the controlling shareholder of Step Electric, an industrial robotics company—a clear signal of long-term ambition.
More companies are expected to join the embodied intelligence rush. Whether any will break through remains to be seen. But for now, this arms race—literal and figurative—is far from over.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3233802166960134">article</a> was written by Leslie Zhang for 36Kr.

China’s consumer tech sector enters a robotics arms race—quite literally

… company upgraded more than 1,026 locations to its ninth-generation store format, each averaging monthly sales of RMB 360,000 (USD 50,400).
Online, the numbers were stronger. As market conditions improved, e-commerce rose to account for 31% of total revenue. Online D2C sales climbed 10–20%.
Li-Ning also upped its R&amp;D investment to 2.4% of revenue, a 0.2 percentage point increase from the previous year. Cumulatively, the company has invested over RMB 3.5 billion (USD 490 million) in innovation over the past decade. The payoff is visible in footwear, which now represents 49.9% of revenue—up from 48.5% last year.
Inventory turnover remains healthy. The full-channel turnover cycle was held at around four months, with an average turnover period of 64 days—just one day longer than the previous year, and still ahead of most peers. Qian noted that the company now reviews inventory performance weekly across departments.
Still, macro pressures persist. Even Nike is restructuring under new leadership, with Elliott Hill steering the brand back to core performance and leaner operations. Anta, too, is reshaping its product mix to reflect a more value-conscious consumer base.
Across the board, the message is clear: scale for its own sake is no longer the priority. Nor is cutting prices at the cost of credibility.
For 2025, Li-Ning expects flat revenue growth and a high single-digit gain in net profit margin, according to Zhao.
One new variable could help lift the brand. Earlier this year, Li-Ning succeeded Anta as the official sportswear partner of the Chinese Olympic Committee for 2025–2028. Anta had previously used that platform to build brand stature and access top-tier events. Now it’s Li-Ning’s turn.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3229641963437449">article</a> was written by Xie Yunzi for 36Kr.

With profits down, Li-Ning leans on core sports to weather a slower market

East Asia

Li-Ning

Consumer Economy

… Capital. The funds will be allocated toward R&amp;D and product iteration. —<a href="https://36kr.com/p/3239621788565507">36Kr</a></li>
<li aria-level="1">Mitoch, a veterinary biotechnology firm, has secured pre-Series A funding worth tens of millions of RMB. Triwise Capital led the investment. Proceeds from this round will support the clinical translation and development of mesenchymal stem cell (MSC) drugs targeting geriatric diseases in animals. —<a href="https://36kr.com/p/3238685304913536">36Kr</a></li>
<li aria-level="1"><a href="https://galaxea.ai/">Galaxea AI</a>, which specializes in embodied AI, has closed its Series A2 and A3 rounds of financing, securing over RMB 300 million (USD 42 million) in total funding. Cathay Capital led the round, with participation from Lenovo Capital, Haier Capital, and follow-on investments from IDG Capital, GL Ventures, Baidu Venture, and Resonance Ventures. The company has pulled in around USD 100 million this year alone. —<a href="https://36kr.com/p/3233799096516614">36Kr</a></li>
<li aria-level="1">Botinkit, a developer of AI-powered digital kitchen systems, has raised an eight-figure USD sum in a Series B funding round. The round was led by 5Y Capital, with Alphaist Partners participating. Stars Capital acted as the financial advisor. The company plans to accelerate product development and international rollout. —<a href="https://36kr.com/p/3232699644083845">36Kr</a></li>
</ul>
whereRelatedArticle
<h3>Nul, SkyeChip, Betterteem, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Nul, a climate tech startup, secured a USD 500,000 pre-seed investment from sustainability-focused venture builder Wavemaker Impact, the platform from which it launched.</li>
<li aria-level="1"><a href="https://skyechip.com/">SkyeChip</a>, an integrated circuit (IC) design firm, secured an undisclosed investment from Gobi Partners through the Dana Impak Fund, which is backed by Khazanah Nasional.</li>
<li aria-level="1">Betterteem, a human resource tech startup based in the Philippines, has secured seed funding from 1337 Ventures. The amount was not disclosed.</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: Cinch secures backing to expand circular tech access, Australia’s Gridsight raises Series A funding, latest China deals, and more

Private Equity

Merger &amp; Acquisition

Singapore

Australia

Hong Kong

Southeast Asia

India

Oceania

It’s been a brutal week for capital markets.
On April 2, US President Donald Trump signed an executive order slapping “reciprocal tariffs” on over 100 countries. US stock indexes nosedived, and the ripple effects hit Asian equities, crude oil, cryptocurrencies, and precious metals. Still, in the midst of market chaos, a curious calm persists among the exporters and cross-border merchants most directly in the line of fire.
For many, the shock wasn’t in the strike—it was in the scale. Ever since Trump retook office, a segment of the global trade community has been mentally preparing for trade war flashbacks. But few expected the hit to land this hard, this soon.
Under the new rules, nearly all Chinese exports to the US will face a 34% tariff, on top of existing duties. For products like textiles and machinery, the combined rate could reach as high as 54%.
This time, though, it’s not just about China. Factories in Vietnam, Malaysia, and Indonesia that had picked up slack during previous trade disruptions are also caught in the crosshairs. Trump's order targets a sweeping list of trade partners, undercutting many of the diversification strategies companies adopted after the last round of tariff tensions.
Vietnam, long a poster child for <a href="https://www.spglobal.com/market-intelligence/en/news-insights/research/asean-china-plus-one-destination-current-situation-risk-outlook">“China Plus One,”</a> had absorbed a large share of China’s manufacturing spillover over the past decade. But much of that momentum was built on Chinese inputs. In key industries like electronics and textiles, Vietnam often functions as a final assembly hub—importing components from China, then exporting finished goods to the US. That structure now works against it. Vietnam not only faces a hefty 46% tariff—one of the steepest under the new rules—but also struggles to meet stricter origin requirements that make Chinese-linked exports harder to clear.
According to the <a href="https://oec.world/en/profile/bilateral-country/chn/partner/vnm">Observatory of Economic Complexity (OEC)</a>, China exported USD 11.2 billion worth of goods to Vietnam in February, a 36.2% jump from the year before. Over the same period, Vietnam’s exports to China rose by 13.6%, reaching USD 6.5 billion.
To cushion the blow, Vietnam’s top leadership has reportedly signaled a willingness to engage with Washington on potential tariff exemptions or bilateral trade terms.
Mexico may be one of the few countries that comes out ahead. Imports from Canada and Mexico remain governed by rules implemented in early March. <a href="https://ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement">USMCA</a>-compliant goods won’t be subject to the new tariffs, though some exceptions remain. For instance, Canadian energy and potash will face a 10% duty, and fentanyl-related products will be taxed under a separate policy.
The broader message is clear: Trump is reactivating tariffs as both cudgel and currency in a new phase of economic brinkmanship.
That strategy has forced exporters and importers into a grim calculus. When Trump floated a 10% tariff hike in February, businesses found ways to cope—split the cost, tweak margins, pass a fraction on to consumers. But the April order pushes past that threshold. Many now say it’s financially unfeasible to absorb the added costs or even maintain US operations at scale.
Across boardrooms and logistics hubs, companies are splitting into three camps. Some have frozen orders from US buyers altogether, bracing for whiplash before making any moves. Others are accelerating shifts away from the US entirely, betting on Southeast Asia, the Middle East, or other markets seen as less volatile.
A third group is trying to adapt without pulling out. Some are leaning on overseas warehouses to mask the China leg of their supply chain, while others are embracing semi-managed models—like those used by <a href="/company/shein">Shein</a> and <a href="/company/temu">Temu</a>—that route inventory through intermediary hubs. The goal is to soften the tariff blow by changing how and where goods enter the US. But as origin rules tighten and transshipments come under greater scrutiny, these workarounds may not hold up much longer.
whereRelatedArticle
Still, not every company has the luxury of walking away.
Cross-border e-commerce businesses, in particular, are locked in. The US accounted for about USD 1.2 trillion in online retail sales in 2024, according to <a href="https://www.fticonsulting.com/insights/reports/2024-online-retail-report">FTI Consulting</a>—nearly nine times the projected size of Southeast Asia’s e-commerce market in 2025, based on <a href="https://www.statista.com/outlook/emo/ecommerce/southeast-asia">Statista</a> data. Some companies have already invested heavily in localization or signed long-term distribution agreements that effectively tie them to the US market.
For those firms, the new tariffs land like a one-two punch.
On the Chinese side, countermeasures were swift.
Beijing’s Tariff Policy Commission announced that, starting April 10, all US imports would be hit with a 34% tariff on top of existing duties. In parallel, the Ministry of Commerce placed 16 US entities—including High Point Aerotechnologies—under export control measures, and added 11 others, such as drone maker Skydio, to its “Unreliable Entity List.”
Meanwhile, on April 4, Chinese authorities opened an anti-dumping investigation into X-ray tubes from the US and India. That same day, new export restrictions were introduced on seven rare earth elements—including dysprosium, terbium, and gadolinium—critical for manufacturing electronics and defense systems. In coordination with customs authorities, import qualifications have also been suspended for several US firms dealing in sorghum, meat and bone meal, and poultry products.
None of this is unfamiliar territory. But this round feels different—not just for its breadth, but for the underlying uncertainty.
Seasoned exporters have weathered plenty, but there’s a sense that this is only the beginning. And right now, all anyone can do is wait—and brace for what’s next.

Trump’s tariffs leave exporters with no easy outs—whether in China or beyond

E-commerce

Logistics

Vietnam

… display.”</blockquote>
Robotics expert Wang Tianmiao was even more direct in a September 2024 interview:
<blockquote>“[Despite] all this heat, people are starting to realize that humanoid robots today mostly just dance, flip, and patrol exhibition halls.”</blockquote>
Even supposedly practical applications are under scrutiny. Automotive factories are a favorite use case, partly due to Tesla’s own strategy. In 2023, several Chinese startups staged high-profile deployments in car plants. But insiders say many of these are more demo than deal. “They’re not sales—they are strategic tie-ups,” one investor said.
Spirit AI founder Han Fengtao told 36Kr that car factories aren’t ideal testbeds. “Embodied intelligence and humanoid robots are both nascent. Trying to combine two immature technologies and apply them to a very complex task is just too ambitious.”
What’s left is a familiar disconnect: ballooning valuations with little revenue to back them up.
“People are benchmarking across sectors,” said the dual-currency investor. “In most industries, a tenfold price-to-sales ratio is high. Some need price-to-earnings. But here, many of these companies haven’t even gone from zero to one. They haven’t found PMF. So how can they be worth tens of billions of RMB?”
Even so, not all bubbles are bad. Zhang argues they are a natural part of tech cycles. But without meaningful progress on commercialization and core tech, this bubble could go the way of the metaverse, community group buying, or coworking spaces—big on promise, short on delivery.
The real question, then, is whether to lean in or walk away.
And that may hinge on a single factor: whether foundation models in embodied intelligence can break through and reach its “GPT-3.5 moment.”
No one—not investors, not scientists—can say for sure. But the clock is ticking. And at this crossroads, the sector must pick a direction: forward or out.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3233197418741769">article</a> was written by Wang Fangyu for 36Kr.

Bubble or breakthrough? China’s humanoid robotics race faces reality check

… reorganization that merged the delivery channels of both brands. Teams and sales infrastructure are now shared to cut costs and boost efficiency. In remote cities like Harbin, Yinchuan, Urumqi, and Xining, Onvo’s sales leads have been replaced by regional heads from Nio’s main business.
Even with its current setbacks, Onvo still has a few strong cards in hand. Its next model, the L90—a three-row SUV aimed at larger families—is priced under RMB 300,000 (USD 42,000). The vehicle will make its debut at this year’s Auto Shanghai and is slated for delivery in the third quarter. A third model, this time a five-seat SUV, is expected to roll out in Q4 2025.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3232316075785858">article</a> was written by Li Anqi for 36Kr.

Nio replaces Onvo president Alan Ai after missing sales targets

Transportation

Electric Vehicles

Mobility