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Former <a href="/company/honor">Honor</a> vice chairman Wan Biao has joined Envision AESC as global CEO. He will also serve as executive director and CTO of parent company Envision Group, according to an internal letter circulated on September 22 and reported by 36Kr.
“It is a great honor to join Envision AESC as CEO,” Wan said in the letter. “I look forward to working with the global team to seize the new wave of growth in the renewable energy industry, continue to deliver safe, high-performance solutions to customers, further strengthen Envision AESC’s position in clean energy technology, and contribute to the world’s transition to net zero.”
Wan spent more than two decades at <a href="/company/huawei">Huawei</a>, where he helped shape two of its core businesses: wireless and consumer devices. Since joining in 1996, he held senior roles including president of the wireless product line, president of the consumer business group, head of the Russia region, president of the consumer mobile broadband and home device line, and COO of the consumer business.
After Huawei spun off Honor in 2020, Wan became its first chairman. He was credited with stabilizing supply chains, rebuilding sales channels, and reestablishing international partnerships, helping the brand regain momentum. He later moved into the vice chairman role when Wu Hui, former chairman of Shenzhen Water Group, took over as chairman in November 2023. Honor confirmed in September 2024 that Wan had stepped down for personal reasons.
Wan’s international track record aligns closely with Envision AESC’s current expansion. Founded in 2007, the company was one of the first to mass produce lithium-ion batteries for <a href="/industry/ev">electric vehicles</a>. Its customers include BMW, Mercedes-Benz, Nissan, Renault, and Fluence, as well as major energy storage providers. It operates or is building large-scale plants in China, Japan, the US, the UK, France, and Spain.
Zhang Lei, chairman of Envision Group, described Wan’s arrival as a pivotal step. “Wan’s vision, ability to design and execute products, and extensive international management experience will strengthen Envision AESC’s competitiveness and drive sustainable growth in core global markets,” Zhang said.
Beyond AESC, Wan will oversee broader responsibilities across Envision Group, which has businesses in wind power, energy storage, hydrogen, the internet of things, and zero-carbon industrial parks. The dual role positions him to coordinate resources across divisions and deepen synergies.
Over the past year, Envision AESC has expanded production capacity. New plants in Cangzhou, China; Ibaraki, Japan; and Douai, France have come online. In early 2024, the Douai site began producing ten gigawatt-hours of batteries annually for Renault’s R5, which later became the bestselling B-segment EV in Europe. In China, the Jiangyin facility started shipping 46-series large cylindrical batteries to BMW’s global EV platform.
In the US, the Tennessee plant launched North America’s first lithium iron phosphate storage battery cell line in April. By August, it had secured more than 40 GWh in orders from over ten Chinese energy storage integrators. Data from Shanghai Metals Market shows Envision AESC ranked among the world’s top three suppliers of energy storage batteries by overseas shipments in 2024.
Further expansion is planned. Plants in Sunderland, UK, and Extremadura, Spain are expected to go online in the next few years, with a new storage battery facility slated for China in 2025.
According to 36Kr, the scale of these projects demands stronger supply chain coordination, cross-regional management, and market development. Wan’s appointment signals Envision’s push to reinforce execution as it enters its next phase of growth.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3478177363876485">article</a> was written by Su Jianxun for 36Kr.

Huawei and Honor veteran Wan Biao takes charge at Envision AESC

Deep Tech

Batteries

Energy

China

Arc'teryx, the Canada-founded outdoor label, has come under fire in China after setting off fireworks in Tibet’s Himalayas as part of a marketing campaign.
Critics said the display risked harming the fragile plateau ecosystem and violated the “leave no trace” principle that outdoor brands are expected to uphold.
On September 21, the Shigatse municipality in Tibet said it had dispatched an investigation team to the site. Hours later, Arc'teryx issued an apology, admitting its artistic judgment should have been more professional and pledging to show greater humility toward nature. The company said it would review the ecological impact of the stunt under government oversight, hire a third-party evaluator, and take corrective actions if needed.
Despite the mea culpa, consumer anger spilled into markets. Shares of <a href="/company/anta">Anta Sports</a>, which owns Arc'teryx’s parent Amer Sports, opened sharply lower on September 22, dropping more than 5% before closing at HKD 95.55 (USD 12.3), down 1.29% for the day.
Anta led a consortium that acquired Amer in February 2019, making Arc'teryx a flagship brand in its portfolio. Amer relisted on the New York Stock Exchange in February 2024, and Anta’s stake has since diluted to 39.49% following secondary offerings.
Although Amer’s earnings have begun contributing to Anta’s bottom line, the impact is still limited. At its 2024 earnings call, Anta reported RMB 200 million (USD 28 million) in profit distribution from Amer, less than 2% of its RMB 11.9 billion (USD 1.7 billion) net profit.
The fallout from the fireworks incident is therefore less about direct financial loss and more about Anta’s reputation for brand management. Observers noted the contrast with Anta’s Fila unit, which in August partnered with Tmall on a campaign that explicitly followed a “leave no trace” ethos. Arc'teryx’s apology appeared to place responsibility on its China operations, describing the display as “in direct opposition” to the company’s environmental values.
The controversy coincides with a management reshuffle at Amer. In June, the company appointed Jeffery Ma, a veteran of Qiaodan, Topsports, and Adidas, as president for Greater China. The transition comes as Arc'teryx faces slowing growth.
In the first half of 2025, Amer reported revenue of USD 2.709 billion, up 23.5% year-on-year, with Greater China contributing USD 856 million. Yet Arc'teryx’s technical apparel division posted USD 509 million in revenue, up 23% but a sharp deceleration from the prior year. Same-store sales growth also slowed, rising 15% in the second quarter compared to 26% a year earlier.
To offset the slowdown, Arc'teryx has leaned on footwear. CEO Stuart Haselden said shoes are now about 10% of revenue after growing more than 60% in 2024, and a new line is set to launch later this year. Industry peers often view footwear as a benchmark of credibility, and for Arc'teryx—positioned increasingly as a premium brand—the category may help restore its technical edge.
whereRelatedArticle
Amer CEO Zheng Jie said the company will focus on optimizing Arc'teryx’s retail network in China, with plans to close legacy partner stores while opening larger, self-operated outlets. Meanwhile, Amer has been investing heavily in Salomon, its other outdoor brand, which expanded to 256 stores by June, up 58% year-on-year.
Even as Amer raised its third-quarter guidance, projecting revenue growth above 20% and an adjusted operating margin at the top of its target range, Anta may face lingering reputational risks from Arc'teryx’s misstep in Tibet.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3477786273274497">article</a> was written by Xie Yunzi for 36Kr.

Arc'teryx faces backlash in China after fireworks stunt in Tibet

East Asia

… SenseTime’s computing capacity for scaling.
China’s GPU startup wave began in 2020, driven by urgency around tech self-sufficiency and returning talent from Nvidia and AMD. Nearly 20 GPU startups emerged within a short time. But Wang argues that 2020 was not the real starting point. The industry’s real window, he said, is opening now.
In earlier years, local players could only capture small fragments of Nvidia’s market, with shares below 10%. Today, surging inference demand and Nvidia’s constraints have created a genuine opportunity.
Financial results reflect the shift. Cambricon’s first-half revenue grew 4,347% year-on-year, turning profitable for the first time. Kunlunxin won a major China Mobile order. Alibaba’s AI chip strategy announcement added RMB 260 billion (USD 36.4 billion) to its market cap overnight. Moore Threads’ first-half 2025 revenue exceeded its past three years combined. MetaX shipped more than 25,000 chips, while Hygon crossed 100,000 units for the first time.
So is Sunrise too late to the party?
Wang doesn’t think so. He argues that chip startups benefit from a latecomer’s advantage: entering too late risks missing the window, but entering too early means wasting resources on wrong bets.
Over the past five years, Chinese AI chipmakers have wrestled with two questions: whether to build CUDA-compatible ecosystems or their own, and whether to focus on general-purpose GPUs or specialized scenarios. The market has shown that CUDA compatibility drives adoption, and specialization is more pragmatic. Those lessons form the basis of Sunrise’s strategy today.
Looking forward, Wang sees three decisive factors for AI chipmakers:
<ol>
<li aria-level="1">Software-hardware integration: GPUs require strong capabilities across the stack.</li>
<li aria-level="1">Market foresight: Companies must anticipate trends and position early.</li>
<li aria-level="1">Timing: With Chinese AI chips on the verge of commercialization, the current vacuum is a one-shot chance to capture share.</li>
</ol>
Wang believes China’s GPU market could support three to five leading players. But 2025 will be decisive:
<blockquote>“Any company that hasn’t passed tapeout and shipped a working product may never get another chance.”</blockquote>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3472995991181952">article</a> was written by Qiu Xiaofen for 36Kr.

Baidu veteran joins SenseTime spinoff Sunrise to compete in AI chip race

Baidu

SenseTime

Artificial Intelligence

Semiconductors

AI Infrastructure

Taobao Shangou adds in-store group buying with Alipay and Amap integration

Taobao

Tmall

On-demand Services

E-commerce

Logistics

Food Delivery

Grocery Delivery

Retail

Consumer Economy

<a href="/company/li-auto">Li Auto</a> and Sunwoda’s battery arm SEVB will set up a joint venture (JV) with equal capital contributions. The company has already been registered with the Shanghai Administration for Market Regulation and, according to public records, will focus on producing and selling lithium-ion batteries for <a href="/industry/ev">electric vehicles</a>.
36Kr has learned that the entity, legally registered in Shandong, will be used to manufacture Li Auto’s self-developed batteries, which could be installed in vehicles as early as next year.
A source told 36Kr that Li Auto classifies its battery collaboration with <a href="/company/catl">Contemporary Amperex Technology</a> (CATL) as a co-development project. By contrast, its partnership with SEVB is regarded as a fully in-house initiative, since Li Auto leads the design of the product, processes, and materials.
Li Auto has assembled a battery R&amp;D team of more than 200 members. Industry insiders said president Ma Donghui closely tracks the project, reviewing progress roughly every two weeks. One source noted that the company is heavily focused on 5C ultrafast charging batteries, where it is deeply involved in chemistry, structural design, and battery management system (BMS) algorithms. “Li Auto and SEVB are pushing forward many battery R&amp;D projects. For almost every one, after calculating the costs with SEVB, Li Auto decides to invest without hesitation,” the source said.
Analysts suggest that setting up a JV with SEVB strengthens the legitimacy of Li Auto’s self-developed battery, which can now officially carry the company’s brand label.
Chairman and CEO Li Xiang has previously outlined three categories of supply chain collaboration:
<ul>
<li aria-level="1">Self-developed and self-produced: Fits the company’s values and strategy, with no mature supplier available. Examples include range extenders, electric drive systems, and smart components.</li>
<li aria-level="1">Self-developed and outsourced: Fits the company’s values and strategy, but mature suppliers exist and can sometimes deliver higher quality.</li>
<li aria-level="1">External procurement: Does not fit the company’s values or strategy, but the market is mature enough, such as with bumpers and mirrors.</li>
</ul>
The new JV falls into the first category. Li Auto has created similar entities for other core parts, such as Huixiang for electric drives and Sike Semiconductor for silicon carbide components.
Although batteries are widely adopted, they remain one of the most expensive components in an EV, accounting for 30–35% of total cost. As a result, they are central to any supply chain strategy.
On the same day, Li Auto also announced a five-year strategic cooperation agreement with CATL. For Li Auto, diversifying partnerships is part of a broader strategy: once a carmaker reaches sufficient scale, controlling costs and securing supply requires working with multiple battery partners.
<h3>Seeking control over pricing and customization</h3>
For Li Auto, joint ventures are a proven way to manage supply chains, a method long used by traditional automakers. The company has already applied this approach effectively, establishing Huixiang with Inovance Automotive for electric drive systems and Sike Semiconductor with Sanan Semiconductor for silicon carbide chips.
The new JV follows the same logic: it gives Li Auto a customized, stable battery supply while lowering supplier investment risks.
Automakers often require bespoke components to differentiate their products, and Li Auto is no exception. For example, Hesai Technology developed ATL LiDAR (light detection and ranging) specifically for the Li i8.
Since ultrafast charging is central to Li Auto’s fully electric models, its need for customized batteries is even greater than its need for specialized LiDAR. But convincing CATL to commit exclusive R&amp;D resources has proven difficult, as the supplier tends to spread new technologies across multiple clients to maximize returns. In this context, SEVB is the better partner for Li Auto’s customization strategy, helping the automaker cut procurement costs, diversify supply, and advance differentiated tech development.
whereRelatedArticle
<h3>How SEVB secures major clients</h3>
SEVB, originally a consumer battery manufacturer, later expanded into the EV battery market. According to its Hong Kong IPO prospectus, consumer batteries still generate more than half of its revenue.
Its formal partnership with Li Auto began in 2017. In 2022, Li Auto invested RMB 400 million (USD 56 million) in SEVB’s EV battery subsidiary, subscribing to RMB 204 million (USD 28.6 million) in shares. This gave Li Auto a 3.22% stake, making it both a customer and shareholder. Chen Hui, SEVB’s general manager of the division serving Li Auto, recalled that the automaker initially planned to invest RMB 200 million (USD 28 million), but CEO Li Xiang personally pushed to double the amount.
In 2023, SEVB set up a dedicated division for Li Auto with 1,300 employees. By June this year, that number had grown to 1,700. Li Auto also increased its procurement from SEVB to 30% of its battery supply.
Chen told 36Kr that SEVB integrated its manufacturing and inventory data into Li Auto’s Lianshan system by the end of 2023. This year, Li Auto’s vehicle data has been linked to SEVB’s systems, enabling the two companies to jointly develop a battery early-warning model.
This deepening integration paved the way for the JV. For SEVB, securing an alliance with a leading EV maker ensures stable demand. With equal ownership, it also shifts from being a supplier to a profit-sharing partner.
As of March, Li Auto contributed 5.8% of SEVB’s revenue, making it one of the company’s top five customers.
Currently, SEVB batteries are used in Li Auto’s L6, L7 Air, and L8 Air models. The upcoming i6 will source batteries from both SEVB and CATL. Following the JV, Li Auto may allocate more supply to SEVB, boosting shipments and improving margins in its EV battery business.
SEVB’s growth strategy in EV batteries combines competitive pricing with an ODM-style approach to secure large clients. Beyond Li Auto, it has formed JVs with Dongfeng Motor and Geely. According to 36Kr, it is also exploring similar partnerships with other automakers to capture a larger share of the expanding EV market.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3474630528211335">article</a> was written by Fan Shuqi for 36Kr.

Li Auto enters battery production with SEVB joint venture

Transportation

Electric Vehicles

Mobility

After four extensions of the ban, TikTok’s fate in the US has become clearer.
On the evening of September 19, following a call between the leaders of China and the US, state broadcaster CCTV reported that China’s position on TikTok was unchanged: the government respects companies’ wishes, supports negotiations based on market rules, and welcomes solutions that comply with Chinese law while balancing all parties’ interests.
In the early hours of September 20, <a href="/company/bytedance">ByteDance</a> announced it would move forward in accordance with Chinese legal requirements, allowing TikTok’s US entity to continue serving American users.
The decision secures TikTok’s survival in the US, though uncertainty remains over what form the business will take and who will ultimately control it.
<h3>From Madrid talks to another Trump extension</h3>
TikTok’s path to this outcome began earlier in September. Trade delegations from China and the US met in Madrid on September 14 and 15, where both sides reached a preliminary framework agreement to resolve the issue through cooperation, reduce investment barriers, and strengthen economic ties.
Days later, on September 16, US President Donald Trump signed another executive order pushing the deadline to December 16, his fourth extension of the ban’s enforcement grace period.
TikTok’s US operations have faced repeated upheavals. On January 19, the day before Trump took office, the ban briefly came into effect, forcing TikTok and other ByteDance apps off US app stores. Within half a day, Trump was sworn in and immediately delayed the ban, giving TikTok a reprieve.
During that window, Trump repeatedly claimed multiple buyers were vying for TikTok. Earlier this year, he floated the idea of a joint venture in which the US would hold a 50% stake. On September 16, he told reporters that a deal had been reached with TikTok, adding that there’s “a group of very large companies that want to buy it.”
According to <a href="https://www.nytimes.com/2025/09/20/technology/white-house-tiktok-deal.html">The New York Times</a>, people familiar with the matter said ByteDance planned to spin off TikTok’s US operations into a new company. Some existing investors would retain stakes, while new US investors would be added, reducing Chinese ownership below 20%.
Two other sources said Oracle, which provides TikTok’s cloud services, was expected to invest, with private equity firm Silver Lake also in talks. Existing investors such as General Atlantic and Susquehanna International Group might transfer their holdings to the new entity.
A senior White House official dismissed speculation about the framework, saying that aside from official announcements, “any details about the TikTok deal are purely guesswork.”
<h3>Mixed reactions from merchants, users, and staff</h3>
For merchants, ownership questions are secondary, for the key is whether TikTok can keep operating. When reports of a framework deal surfaced on September 15, sellers welcomed it. Some US users, however, worried they could be forced onto a separate app.
In July, <a href="https://www.reuters.com/world/china/tiktok-prepares-us-app-with-its-own-algorithm-user-data-2025-07-09/">Reuters</a> reported that TikTok was preparing a US-only app with its own algorithm and data system, internally codenamed “M2.” Similar to how Douyin operates independently in China, the app would not appear in overseas app stores and would rely exclusively on US user data. ByteDance denied the report, with an employee telling 36Kr that the plan had effectively stalled.
Amid such uncertainty, employees also voiced unease. With TikTok’s US operations possibly changing hands, staff worried about layoffs and restructuring. Some reportedly joked that listing TikTok on their resume would be proof of resilience.
<h3>A blow to ByteDance’s global ambitions</h3>
If TikTok’s US business is sold, it would be a major setback for ByteDance. TikTok has long been central to the company’s growth, particularly in overseas markets.
By 2023, TikTok had become ByteDance’s main revenue driver. According to <a href="https://www.theinformation.com/articles/tiktok-americas-growth-surge">The Information</a>, in 2024, overseas revenue—led by TikTok—rose 63% year-on-year, even as ByteDance’s profit growth and margins slowed. The segment accounted for roughly one-quarter of the company’s total income.
The US has been the largest contributor. TikTok Shop’s US operations generated USD 8 billion in 2024, about one-quarter of its global e-commerce revenue. LatePost reported that TikTok’s e-commerce team set nearly 100% growth targets for 2025, with the US expected to lead, aiming for close to 200% growth.
Uncertainty over its US future has also pushed TikTok and TikTok Shop to expand aggressively in East Asia, Europe, and Latin America. These efforts are bearing fruit. On September 5, TikTok announced it had surpassed 200 million monthly active users in Europe, which is about one-third of the continent’s population. The figure represents an uptick from 175 million the previous year.
Earlier, during the third extension of the ban, 36Kr interviewed Nie Huihua, a professor at Renmin University’s School of Economics. He argued a full ban was unlikely and predicted TikTok would be forced to give up control or equity:
<blockquote>“They might cede actual control, like a trustee model, while keeping most of the shares. That way, both sides can save face.”</blockquote>
TikTok’s current trajectory appears to validate his assessment. Nie emphasized that Chinese companies expanding globally must manage business-to-government relations carefully, and that’s an observation that remains relevant today.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3474510748686729">article</a> was written by Lan Jie for 36Kr.

TikTok wins US lifeline after months of uncertainty

TikTok

Entertainment

Short Video

Live Streaming

Video

Creative

Content

Creator Economy

… href="https://www.instagram.com/p/DAZ0s3oyEDJ/" target="_blank" rel="noopener noreferrer">View this post on Instagram</a></blockquote>
</div>
<script async src="https://www.instagram.com/embed.js"></script>
China’s industry follows a similar trajectory but differs in two key ways:
<ul>
<li aria-level="1">First, Japan enforces strict standards for raw materials, additives, and storage temperatures. Chilled products last only a few days to a week, while frozen items can be stored for months. China’s industry, by contrast, still depends heavily on restaurants and delivery services, with national standards still under development.</li>
<li aria-level="1">Second, cold chain logistics in China remain concentrated in coastal and major cities, limiting nationwide distribution. As a result, most pre-prepared food companies are small and regional.</li>
</ul>
Several listed companies have addressed the controversy.
Qianwei Yangchu told investors it recognizes the trust issues facing the industry and has adopted measures such as new quality management systems.
At a results conference, Weizhixiang chairman and general manager Xia Jing said the industry is growing rapidly but faces challenges including inconsistent standards, food safety, and regulatory gaps. He believes brand reputation will become the key factor in consumer choice once new standards are in place.
A Guolian Securities research report projected that China’s pre-prepared dish market could reach <a href="https://kuaixun.stcn.com/yb/202209/t20220908_4849922.html">RMB 674.9 billion (USD 94.5 billion) by 2030</a>, with a compound annual growth rate above 10% over the next decade.
As the industry expands, it seems likely that China’s dining landscape will undergo significant transformation.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3468771399767682">article</a> was written by Xie Yunzi for 36Kr.

After feud with Luo Yonghao, Xibei yields to consumer pressure over pre-prepared food

Chinese corporate earnings have started to pick up, helped by growing exports to Southeast Asia and government efforts to spur consumer spending.
Net profits at mainland-listed companies rose 1% on the year in the January-June half, reaching RMB 1.6 trillion (USD 224 billion) for the first increase for this period in three years. It marked a turnaround from a full-year profit decline of more than 10% in 2024.
The total excludes financial companies. Nearly all of the roughly 5,300 companies compared had reported earnings by the end of August.
With exports to the US falling under pressure from the Trump administration's tariffs, Chinese industry saw notable growth in Southeast Asia.
Listed steel companies' profits more than doubled. Baoshan Iron &amp; Steel, part of top global steelmaker China Baowu Steel Group, posted a 7% gain, marking its first increase in four years for the January-June half.
Among machinery makers, Sany Heavy Industry logged a 46% profit increase on a 12% rise in international revenue from its core business.
Appliance makers benefited from Chinese government incentives for buyers of new products. The sector saw a roughly 13% increase in net profit, with Midea Group enjoying a 25% gain.
Profit jumped 33% at semiconductor companies, a faster pace than the 11% gain for the first half of 2024. The industry is undergoing a government-led effort to build up the domestic supply chain—an environment that favors such equipment makers as Naura Technology Group, which saw revenue grow 30% and profit rise 15%.
Contract chipmaker Semiconductor Manufacturing International Corporation (SMIC) logged profit growth of roughly 40%. Artificial intelligence chip designer Cambricon Technologies, hailed by some as China's answer to <a href="/company/nvidia">Nvidia</a>, swung to a profit.
"As China's leadership under [President] Xi Jinping continues to offer massive subsidies and tax breaks to advance homegrown chip production, this will provide earnings support" in the sector, said Naoki Tsukioka of Japan's Mizuho Research &amp; Technologies.
But many other sectors struggled in the first half—notably real estate, where 46 of 100 listed companies posted net losses. Leading homebuilder China Vanke's loss topped RMB 10 billion (USD 1.4 billion), while peer China Evergrande Group was delisted from the Stock Exchange of Hong Kong in late August.
No end is in sight to the country's real estate slump. Prices of new homes fell from the previous month in more than 80% of 70 major cities in July, according to the National Bureau of Statistics.
Solar panel makers including JinkoSolar and Longi Green Energy Technology suffered losses as an oversupply pushed down prices on their products.
Automakers emerged with a small profit decline despite government aid as price competition intensified. They face a similar production glut weighing on revenue. <a href="/company/gac">GAC Group</a> reported a net loss, while SAIC Motor and Great Wall Motor saw their profits fall. <a href="/industry/ev">Electric vehicle</a> market leader <a href="/company/byd">BYD's</a> profit growth slowed compared with a year earlier.
Listed companies' total first-half revenue was down from a year earlier in a sign of deflationary pressure. China's overall economic performance in H1 2025 shows that stimulus measures had some effect. But since July, indicators suggest a slowdown.
Economic growth in the second half will be in the mid-4% range, followed by growth of less than 4% in 2026, predicts Yusuke Miura of Japan's NLI Research Institute.
This article first appeared on <a href="https://asia.nikkei.com/business/business-trends/corporate-china-ekes-out-earnings-rebound-on-asian-exports-stimulus">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>.

Corporate China ekes out earnings rebound on Asian exports, stimulus

Wang Kai, investment partner at Vision Plus Capital and former CTO of <a href="/company/li-auto">Li Auto</a>, has reportedly launched a startup in embodied intelligence. A senior executive responsible for assisted driving technology at a major automaker has also joined the project and is currently on leave from the company.
According to 36Kr, the startup has attracted strong investor interest. Within months of its founding, it secured about USD 50 million across two funding rounds. Vision Plus Capital led the first, while HongShan and Lanchi Ventures backed the second.
The team’s track record in <a href="/industry/ai">artificial intelligence</a> and large-scale engineering is seen as a key factor in drawing support, in addition to growing interest in <a href="/industry/embodied-intelligence">embodied intelligence</a>.
Wang joined Li Auto in September 2020 as CTO, where he oversaw R&amp;D and mass production of intelligent vehicle systems, covering electronic and electrical architecture, smart cockpits, autonomous driving, platform development, and real-time operating systems.
Before Li Auto, he spent eight years at Visteon, where he was the founding designer of DriveCore, the company’s assisted driving platform. He led five mass production projects spanning chips, algorithms, operating systems, and hardware architecture.
At Li Auto, Wang accelerated the rollout of assisted driving solutions, reaching mass production in just seven months. He left the company in early 2022 to become an investment partner at Vision Plus Capital, a role he continues to hold. In venture capital, however, such positions often function more as advisory roles rather than full-time operational posts.
The senior executive who joined him at the startup brings rare experience in end-to-end mass deployment, including work on vision-language-action (VLA) systems. Such expertise remains unusual among embodied intelligence ventures.
Beyond assisted driving, embodied intelligence has emerged as a key application area for AI, attracting talent from the autonomous driving sector and drawing significant funding.
In March, for example, Tars, another embodied intelligence startup, raised USD 120 million in an angel round just 50 days after its founding, representing the largest angel investment in the segment in China. Like Wang’s venture, Tars was founded by an executive with autonomous driving experience, Chen Yilun.
Automotives are often described as “robots without hands.” With autonomous driving and embodied intelligence closely aligned, carmakers such as <a href="/company/tesla">Tesla</a> and <a href="/company/xpeng">Xpeng</a> see the field as their next growth frontier. Many automotive executives are also choosing it as their path to entrepreneurship.
Before Wang, others, including Yu Yinan, a former vice president at Horizon Robotics, and Gao Jiyang, who previously led mass production R&amp;D at Momenta, had already launched startups in embodied intelligence.
Automakers are racing ahead in assisted driving technology. Huawei, for instance, has announced that its computing power investment in the field has reached 45 exaflops. Meanwhile, capital is pouring into embodied intelligence as well. Competition for top talent between the two segments is set to continue.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3470785511036291">article</a> was written by Fan Shuqi for 36Kr.

Li Auto’s former CTO launches embodied intelligence startup with USD 50 million backing

Robotics

Embodied Intelligence