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Anta Sports has taken another decisive step in its global expansion with the launch of the "Kai 1 Speed" basketball shoes, co-designed by Kyrie Irving’s father. On September 28, the exclusive “Twin Flame” colorway hit the shelves of more than 60 Foot Locker stores across North America and Europe, as well as DSG Footwear locations. Notably, the Kai 1 Speed is featured in 44 of Foot Locker "Home Court" stores in the US—premium outlets dedicated to basketball and deeply rooted in NBA culture.
This marks a new chapter for Anta, following the global debut of the Kai 1 series in Dallas in March, with subsequent rollouts in New York, San Francisco, Dubai, Singapore, Manila, and cities across China, including Beijing, Shanghai, and Guangzhou.
The release is a cornerstone of Anta’s broader global strategy. Until now, its presence in North America was largely confined to niche sneaker boutiques. But breaking into major retailers like Foot Locker and DSG changes the game. Together with JD Sports, these three chains dominate the sports retail landscape in the West, wielding immense influence with their vast networks and market authority. For context, as of August 3, Foot Locker alone operates 2,464 stores across 26 countries, including North America, Europe, Asia, Australia, and New Zealand.
For international sportswear brands, securing space in these retailers is a major milestone. It’s no surprise that Nike’s incoming CEO, Grant Hill, has made rekindling relationships with brick-and-mortar retailers like Foot Locker a central part of his leadership plan. Outgoing CEO John Donahoe faced criticism for a D2C strategy that strained Nike’s retail partnerships, creating room for emerging brands like On and Hoka to fill shelves as physical retail rebounded post-pandemic.
Nike’s challenges underscore the importance of mainstream retail channels in the Western sports market. What makes Anta’s entry into 44 Home Court stores particularly notable is the highly selective nature of these outlets. Developed with Nike and Jordan Brand, Home Court stores aim to cement Foot Locker’s dominance in sneaker and basketball culture. Only a handful of brands—Nike, Jordan, Adidas, Under Armour, and New Balance—are showcased in these prime spaces, with Anta now joining their ranks.
<figure id="attachment_150283" aria-describedby="caption-attachment-150283" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-150283" src="https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture-1024x576.jpg" alt="Close-up photo of the Kai 1 Speed basketball shoes in the Twin Flame colorway, co-developed by Anta Sports and Kyrie Irving’s father." width="1024" height="576" srcset="https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2024/10/Anta-Sports-Kai-1-Speed-Twin-Flame-Texture.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-150283" class="wp-caption-text">Close-up photo of the Kai 1 Speed basketball shoes in the Twin Flame colorway, co-developed by Anta Sports and Kyrie Irving’s father. Photo and header image source: Anta Sports.</figcaption></figure>
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For Anta’s CEO, Xu Yang, this international push is personal. In an interview last October, Xu spoke about his vision: "Everyone hopes to leave a legacy during their tenure… I want Anta, under my leadership, to truly become a global brand."
Xu also emphasized the importance of Anta’s partnership with Irving as a gateway to global markets. "International retail chains give you one chance—a small display with ten pairs of shoes. You only get one shot. If you succeed, you’ll earn more space in the future. But if you fail, the door that Kyrie opened will close.”
Securing shelf space in top Western retailers is more than just a milestone for Anta—it’s a make-or-break moment. The brand is now positioned for its first real test in the Western market, and the stakes couldn’t be higher.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2970515407638529">article</a> was written by Ren Cairu for 36Kr.

Anta Sports and Kyrie Irving’s father team up to conquer Western markets

Northeast Asia

Anta

China

Europe

The US Department of Commerce (DOC) has issued preliminary countervailing duties on solar imports from Cambodia, Malaysia, Thailand, and Vietnam, a critical move aimed at addressing what US officials describe as unfair competition from Chinese-owned manufacturers operating in these countries.
The penalties, which range from modest to staggering—some as high as 292.61%—are designed to offset the advantage these companies gain through substantial government subsidies. According to the <a href="https://www.trade.gov/commerce-preliminary-countervailing-duty-investigation-crystalline-photovoltaic-cells-cambodia">investigation</a>, these subsidies allow foreign manufacturers to sell solar products in the US at prices well below fair market value, undercutting domestic producers.
US DOC officials calculated the duties by assessing the level of subsidization received by the companies. In cases where firms like ISC Cambodia and GEP New Energy (Vietnam) did not fully cooperate, the department applied a more punitive measure known as “adverse facts available,” resulting in higher rates of 68.45% and 292.61%, respectively. Companies that provided clearer data—such as Hanwha Qcells (Malaysia), with a duty of 14.72%, and JinkoSolar Technology, at 3.47%—faced lower tariffs, reflecting a more transparent relationship between subsidies and pricing.
Cambodian companies like Solarspace New Energy were hit with a 68.45% duty, while other exporters from Cambodia will see a more moderate 8.25%. Malaysia’s solar firms faced mixed results, with JinkoSolar receiving 3.47% and Qcells 14.72%, but others, such as Baojia New Energy, were saddled with a punishing 123.94%. In Thailand, Trina Solar managed to escape with a negligible 0.14% duty, but most others will contend with 23.06%. Vietnam saw the broadest range of outcomes, with some firms, like JA Solar, facing 2.85%, while others, like GEP New Energy, were dealt the maximum duty of 292.61%.
The case stems from a petition filed in April by the American Alliance for Solar Manufacturing Trade Committee, which includes prominent US manufacturers like First Solar, Convalt Energy, REC Silicon, and, somewhat ironically, Qcells—the latter having substantial operations in Malaysia.
The coalition claims that Chinese-owned companies operating out of Southeast Asia are receiving significant government subsidies and using those advantages to flood the US market with below-cost solar products. The timing is critical. Chinese solar companies, long dominant in the global market, have increasingly shifted production to Southeast Asia, particularly after the US imposed tariffs on China-made solar panels.
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The stakes are high for the US solar industry. Projected to create tens of thousands of jobs in the coming years, domestic manufacturers argue that the playing field is far from level. Without protective measures, they say, the US risks becoming overly dependent on cheap foreign imports—a scenario that could stifle both economic growth and the country’s clean energy transition.
Beijing has cautioned that these measures might backfire, potentially becoming a self-fulfilling prophecy by slowing the US clean energy transition due to increased solar development costs. US officials, however, contend that the move is essential for building a competitive and sustainable domestic solar manufacturing industry—one that is less dependent on foreign supply chains and better positioned to support long-term energy independence.
The investigation will continue, with final determinations expected by early 2025. Meanwhile, the US International Trade Commission will examine whether the domestic solar industry has been materially harmed by these imports. Should the findings hold, the duties will apply retroactively to imports that arrived up to 90 days before the preliminary decision.

US introduces preliminary tariffs on Southeast Asian solar imports

Deep Tech

Energy

Climate

Southeast Asia

… produced in Chinese factories, with initial sales restricted to China. As Volkswagen’s subsidiary, Audi is essentially following the same game plan.
This new R&amp;D model aims to solve two of Audi’s most pressing challenges: declining sales in China and slower-than-expected progress in electrification.
<h3>Will the China-focused model work?</h3>
In July, Audi announced an ambitious plan to sell around 800,000 pure electric and plug-in hybrid vehicles annually by 2025. However, in the first half of 2024, Audi had yet to report any plug-in hybrid EV sales, and global EV sales amounted to just 77,000 units.
To meet its targets, Audi will need a breakout product. The mission of the Audi-SAIC project appears to be creating a flagship EV in China, the world’s largest market for new energy vehicles (NEVs).
Song said that this new car won’t just benchmark against Mercedes-Benz and BMW but will also compete with automakers like Nio and Li Auto.
The new vehicle, set to debut in 2025, will incorporate technology from domestic supplier Momenta, offering at least Level 2 autonomous driving capabilities, including urban navigation assistance. Audi’s bet on smart technology is a clear sign of where it sees its future product strength.
This China-focused model is quickly becoming a trend among multinational car brands.
Mercedes-Benz, for instance, is also expanding its Chinese R&amp;D team’s influence. The new pure electric CLA, scheduled for release next year, will be its first vehicle model to use a domestic intelligent driving supplier, offering urban navigation based on data sourced in China. This feature will initially be available only to Chinese consumers. 36Kr previously reported that Mercedes-Benz is considering further localizing its supply chain in China, all driven by its local R&amp;D team.
The needs of Chinese consumers and the rapid growth of the domestic NEV market have outpaced the expectations of international automakers. Ford CEO Jim Farley recently cautioned that this lead can be construed as an existential threat.
As the world’s fastest-growing and largest market for NEVs, China offers foreign automakers little choice but to chase local trends. Developing vehicles with Chinese teams, using Chinese supply chains, and launching them exclusively in China is now seen as the most effective strategy.
However, insiders told 36Kr that Mercedes-Benz’s new CLA, set to debut next year, could start at over RMB 300,000 (USD 42,000). In comparison, B-segment electric sedans like Xpeng’s Mona 03 and the BYD Seal are priced at RMB 119,800 (USD 16,772) and RMB 175,800 (USD 24,612), respectively. Mercede-Benz’s’ limited localization may leave it with little cost advantage.
Still, the pace of innovation in China is staggering. The Aito M7, for example, has undergone one facelift and two new versions in just two years, with cumulative deliveries surpassing 220,000 units.
Chinese companies are delivering new products and technologies at breakneck speed. Even though foreign brands like BMW, Mercedes-Benz, and Audi may launch new vehicles exclusively in China, they can’t escape the slow decision-making processes of multinational corporations. By the time they adapt, Chinese automakers may already be gearing up to release their next models.
Nevertheless, luxury car brands like BMW, Mercedes-Benz, and Audi still wield considerable brand power in China. Whether the new China-focused model can reverse their sales decline will depend on how quickly and thoroughly they can execute their strategy.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2956705413642113">article</a> was written by Xu Caiyu for 36Kr.

Can prioritizing China reverse the ailing fortunes of luxury car giants BBA?

Electric Vehicles

Mobility

Two years ago, Xu Wei, the founder of Chinese secondhand luxury goods platform Plum (also known domestically as Hongbulin), had grand ambitions. Fresh from raising approximately USD 100 million in Series C funding, Xu envisioned a major overhaul of Plum’s platform infrastructure, focusing on improving everything from service standardization to user experience.
However, Xu is now stepping aside, as Zhuanzhuan is poised to take full control in an imminent merger between the two companies. Xu will no longer serve as CEO, transitioning to an advisory role while Zhuanzhuan co-founder and COO Hu Weikun takes the helm.
Zhuanzhuan had been Plum’s sole investor in the Series C round but sought more than a financial stake from the outset. A source close to Plum’s former investors told 36Kr that negotiations began in 2023, as Zhuanzhuan aimed to enter the secondhand luxury market, making Plum a strategic acquisition target.
For Xu, relinquishing control wasn’t an easy decision. According to multiple sources, protracted negotiations over price and Xu’s reluctance to step down caused significant delays. Nevertheless, Zhuanzhuan remained steadfast, ultimately securing full control.
Zhuanzhuan had been eyeing acquisition targets in the secondhand luxury space since 2021, and Plum wasn’t its only option. Its primary goal was control, not just investment.
Founded in 2017 by Xu Wei, Yang Bin, and Pang Bo, Plum saw all but Xu exit by 2023. Longtime investors, including Matrix Partners, K2VC, IDG Capital, Unity Ventures, and Sinovation Ventures, had also exited.
For many investors, the acquisition is viewed as a favorable outcome for both parties. “Platform companies tend to do well when they integrate,” a private equity insider said. Zhuanzhuan’s focus on secondhand 3C products complements Plum’s luxury goods offering. In the e-commerce space, niche platforms often struggle to generate sufficient traffic to achieve profitability, and Plum likely faced similar challenges.
The acquisition price, according to one investor, was within a fair range.
This deal aligns with a broader trend in the industry. While consumer venture capital surged in 2021, the market has cooled significantly, leading acquisitions to become the preferred exit strategy. Notable examples include Miniso <a href="https://kr-asia.com/miniso-bets-big-on-retail-with-major-stake-in-yonghui-superstores">acquiring a 29.4% stake in Yonghui Superstores</a>, JNBY’s buyout of OMG and its sub-brand On My Game, and earlier deals like Kidswant purchasing Leyou and Anta Sports <a href="https://kr-asia.com/can-anta-sports-transform-maia-active-into-chinas-lululemon">acquiring Maia Active</a>. Larger players continue to absorb smaller companies at an accelerating pace.
Lower valuations in the consumer sector have prompted more buyers to act, while startups missing growth targets often face lawsuits from investors due to buyback agreements. In this environment, securing a buyer can be the best possible outcome.
Yet, as in marriage, the right acquisition deal is rare. The truth is, while there’s no shortage of sellers, finding a capable and willing buyer is another matter entirely.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2969156143681545">article</a> was written by Yang Yafei for 36Kr.

Zhuanzhuan’s takeover of Plum adds to China’s consolidation wave as venture capital cools

… https://console.kr-asia.com/wp-content/uploads/2024/10/Toyota-Joby-Aviation-1536x1025.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2024/10/Toyota-Joby-Aviation-2048x1366.jpg 2048w" sizes="(max-width: 720px) 100vw, 720px" /><figcaption id="caption-attachment-150272" class="wp-caption-text">Photo of Tetsuo Ogawa (left), operating officer of Toyota Motor, shaking hands with JoeBen Bevirt, founder and CEO of Joby Aviation, during a signing ceremony to formalize Toyota’s investment in the electric air taxi company. Photo courtesy of Toyota.</figcaption></figure>
Joby has recently rolled out its third electric air taxi prototype and is progressing through the Federal Aviation Administration (FAA) certification process. With Toyota’s support, Joby aims to bring its electric vertical takeoff and landing (eVTOL) aircraft into commercial service, a potential game changer for urban transport and a key element in Toyota’s broader strategy to address global mobility challenges.
<div class="embed-container"><iframe src="https://www.youtube.com/embed/8cSR0xyn8IY?autoplay=0&amp;mute=1&amp;origin=https://OurWebsiteDomain" frameborder="0" allowfullscreen> height="278" frameborder="0" allowfullscreen="allowfullscreen" data-ytbridge="vidSurrogate2"></iframe></div>
<h3>Aiello receives USD 5 million to expand AI-powered hospitality tech</h3>
<a href="https://aiello.ai/">Aiello</a>, a startup specializing in natural language processing (NLP) technology, has received USD 5 million in a funding round led by Cool Japan Fund and the CDIB Cross Border Innovation Fund. The round included participation from E.Sun Venture Capital and existing backers JAFCO Asia and Wistron Corporation.
Aiello’s AI-driven platform, Aiello-One, provides hotels with a smart management system that handles guest requests, cross-departmental tasks, and offers real-time data analytics.
With reportedly 55.1 million guest interactions to date, the company is positioned to modernize the hospitality industry in regions like Japan and Southeast Asia, where labor shortages are pressing. The new funds will help Aiello deepen its partnerships and refine its product to meet growing demands for automation in hotel operations.
<figure id="attachment_150271" aria-describedby="caption-attachment-150271" style="width: 640px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-150271" src="https://console.kr-asia.com/wp-content/uploads/2024/10/Aiello-Vic-Shen-1024x768.jpg" alt="Photo of Vic Shen, co-founder and CEO of Aiello." width="640" height="480" srcset="https://console.kr-asia.com/wp-content/uploads/2024/10/Aiello-Vic-Shen-1024x768.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2024/10/Aiello-Vic-Shen-300x225.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2024/10/Aiello-Vic-Shen-768x576.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2024/10/Aiello-Vic-Shen.jpg 1280w" sizes="(max-width: 640px) 100vw, 640px" /><figcaption id="caption-attachment-150271" class="wp-caption-text">Photo of Vic Shen, co-founder and CEO of Aiello. Photo courtesy of Aiello.</figcaption></figure>
<h3>Podeo raises USD 5.4 million in Series A to expand its podcast platform</h3>
<a href="https://podeo.co/">Podeo</a>, a podcast distribution platform based in the UAE, has raised USD 5.4 million in a Series A funding round led by Oraseya Capital, according to <a href="https://techcrunch.com/2024/09/30/podeo-5-4m-series-a/">TechCrunch</a>. The round included participation from Ibtikar Fund, Cedar Mundi Ventures, and returning investor Razor Capital.
Podeo, which serves millions of subscribers primarily in the Arab world, found its footing after the 2020 Beirut explosion, when users turned to the platform to share stories and connect.
With podcast listenership growing in emerging markets, Podeo is planning expansions into Latin America, Eastern Europe, and Southeast Asia. The funds will also support Podeo’s content creation efforts, as it seeks to capitalize on its momentum by developing exclusive podcasts and scaling its advertising tech for creators, making the platform a stronger competitor to global players like Spotify and Podimo.
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<h3>Broom, Numa, and more led recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.broom.id/en/">Broom</a>, an Indonesia-based startup shaking up the used car market, landed USD 25 million in a Series A+ funding round led by Openspace, with support from AC Ventures, Quona Capital, MUFG Innovation Partners, and PKSHA Capital. The startup also secured credit facilities from players like Komunal, Modalku (Funding Societies), Alami, and DBS Indonesia.</li>
<li aria-level="1">Mitsui &amp; Co threw its weight behind US-based artificial intelligence startup <a href="https://www.numa.com/">Numa</a>, investing in the company’s USD 32 million Series B funding round.</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: Truely and Jazro raise funding, IFC invests in First Circle, OpenAI closes massive USD 6.6 billion round, and more

OpenAI

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Philippines

Middle East

… fighting climate change, not least because of its potential impact on their competitiveness.
Foxconn, the world's largest contract electronics manufacturer, consumes roughly 10 billion kWh of electricity per year at facilities around the world, including in China, Taiwan, Vietnam, and India. It joined the RE100 initiative in July.
Ron Horng, vice president of Foxconn's central environment division, said that energy security and access to green energy are among the company's top priorities when negotiating with local governments about building a factory at a new location.
"But in some countries, they are struggling with stable power supply or vulnerable power grids, which makes it very difficult to ask for low-carbon and green power," Horng said. "It's like if someone is starving, and you ask them why they don't eat beef instead. That's unrealistic."
Foxconn, which has reached 45% renewable energy use globally, is lobbying governments in countries like Vietnam to enhance their green energy supply and infrastructure. It is also upgrading its facilities to increase energy efficiency and it aims to lower its energy consumption by 4% each year, Horng said.
"The industry is shifting toward low-carbonization. It is a new form of economic war," he said. "If you don't make efforts to love the Earth, you will not survive in the top-tier supply chain."
Delta Electronics, the world's biggest supplier of power management solutions for computers and servers, was one of the first tech suppliers to join RE100 in 2021. It has committed to source all of its electricity from renewables and be carbon neutral by 2030.
"We reached 76% renewable electricity use in 2023 in terms of our global manufacturing and operation," Jesse Chou, Delta's vice president and chief sustainability officer, told Nikkei. "Our challenge is we have to meet such goals in our 190 diversified locations globally. … Thailand and India are the most challenging countries."
Chou said governments have to build the infrastructure for renewable energy faster and deploy policies to step up emissions reduction.
"But other than that, we have to do self-rescue. … We are building a solar power plant in India, and we are also evaluating building power plants in Thailand on our own," he said. "We—and the entire industry and governments—need to face the problems directly. "
TSMC, which was one of the first chipmakers to commit to RE100, told Nikkei that increasing electricity demand for AI servers and chip investments will not affect its renewable energy strategy. The world's top chipmaker aims to use 60% renewable energy by 2030. Overseas operations have already reached 100% renewable use, but a low figure in its home market of Taiwan, where most of its operations are based, means its overall total is just 11%.
For Pegatron's Tung, expansion in Taiwan, Southeast Asia, India, and Mexico has been an eye-opener, making him realize how hard it is to access and secure stable and renewable energy. "The development and expansion of green energy is not fast enough to support the urgent need to cut carbon emissions and [ensure] economic growth," the chairman said.
That is why he is pushing so hard for Taiwan to stick with nuclear power, even if he feels he is fighting an uphill battle.
"The Gospels have been preached for 2,000 years, but I've just started," Tung said. "We need to provide enough low-emission power, otherwise energy will weaken Taiwan's competitiveness."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Spotlight/The-Big-Story/Green-energy-realities-threaten-Asia-s-tech-dreams" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Green energy realities threaten Asia's tech dreams

“I hope the orders don’t increase too fast. The supply chain needs a bit of a break,” said Jiang Wen, head of R&amp;D for Xpeng Motors’ Mona electric vehicle series.
On August 27, after the launch of the first EV in the Mona series, the M03, orders surged, creating a welcome challenge for Xpeng—managing deliveries. Just the day before his interview with 36Kr, Jiang left the office at 2:30 a.m. Now stationed at Xpeng’s Zhaoqing production base, he was tasked by CEO He Xiaopeng with overseeing production to keep operations running smoothly.
Jiang’s focus on scaling up production contrasts with the automotive industry’s ongoing price wars and aggressive promotions. The Mona M03 quickly gained popularity thanks to its sleek design, electric range starting at 515 kilometers, and intelligent driving system. Priced from RMB 119,800 (USD 16,772), it’s proving to be more popular than Xpeng’s P7.
In just 48 hours, the M03 garnered 30,000 orders, with the company’s supply chain reporting daily orders surpassing 2,000 vehicles. Industry insiders suggest that Xpeng now holds over 100,000 M03 orders.
“The M03’s success has been a bit of a surprise. It’s like Xiaomi’s SU7—people really identify with the M03,” Jiang said, comparing it to Xiaomi’s first car, which saw nearly 90,000 preorders within 24 hours.
Xpeng initially projected monthly sales of 10,000 units and planned its supply chain accordingly. However, with demand far exceeding expectations, the company made quick decisions to ramp up production within just ten days. According to Jiang, the primary bottleneck isn’t at the Zhaoqing base but within the supply chain. He has been in discussions with key suppliers to expand capacity.
Increasing production isn’t easy. The automotive supply chain is long and interconnected, with scaling up requiring adjustments to molds, fixtures, and production lines. Molds, in particular, have fixed processing times that can’t be shortened by simply adding more workers.
To tackle these challenges, Xpeng has deployed teams from design, manufacturing, quality control, and logistics to work directly with suppliers. “It’s like a 24-hour relay race,” Jiang said. “As soon as one process finishes, it moves straight to the next. We’re making sure every step transitions seamlessly to maximize time and capacity.”
The M03 is a key part of Xpeng’s strategy for 2024. Since acquiring the Mona project from Didi, the company has invested over RMB 5 billion (USD 700 million). It has also made more than 100 upgrades to the M03 vehicle. These enhancements span exterior and interior redesigns, as well as improvements to the chassis and battery, all aimed at boosting safety and reliability. Xpeng has also integrated advanced features like full-scenario voice control and an intelligent driving system.
Thanks to its competitive price, attractive design, and smart features, the M03 has captured the attention of a significant portion of younger consumers. “In surveys of over 1,000 users, we found that more people are prioritizing quality and style, especially young people willing to invest time and money in things they like,” Jiang said. “Price-to-performance ratio matters, but if the product is good, they’ll pay for it.”
Judging by the surge in orders, the M03 has clearly hit the mark. However, the M03 faces competition from competitors like BYD and GAC Aion, which develop models in the same price range. To secure lasting sales and brand recognition, Xpeng needs to continue scaling production to meet demand.
Keeping production capacity high enough to meet demand has long been a challenge for Xpeng. In 2023, the G6 model faced supply chain issues that slowed deliveries.
To avoid similar problems, Xpeng president Wang Fengying began planning the M03’s production ramp-up as early as December 2022, benchmarking against industry standards. The company also held three major conferences between April and June 2023 to align suppliers with the project.
These measures, along with Xpeng’s internal organizational changes, have been key. In last year’s restructuring, CEO He took direct control of the supply chain. Early this year, he remarked on social media that “good management starts with learning how to save money, but it’s even more important to know how to spend it wisely for the long term.”
Jiang shared that He has been personally reviewing the entire cost structure of the M03 every month since he took charge of supply chain matters, from bill of materials (BOM) costs to per-vehicle manufacturing, logistics, and warranty expenses. He is said to examine every detail, tracking targets, identifying gaps, and ensuring progress.
Xpeng’s collaboration with Volkswagen has also boosted its supply chain management. The company has gained valuable insights from Volkswagen’s century of experience, particularly in quality assurance, production, and logistics. CEO He even led a team to study production management at Volkswagen’s Anhui factory, where they exchanged ideas on quality control and logistics.
“The M03’s success isn’t just luck,” Jiang said, adding that future models in the Mona series will be priced slightly higher than the M03 but will offer a broader range of options.
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Looking ahead, Xpeng plans to apply the lessons learned from developing the M03 to future models. According to Jiang, Xpeng has now established a robust supply chain management methodology, which will be key to launching more popular models like the M03.
“The methodology we’ve developed is now part of our organizational muscle memory. It ensures we’ll continue to release blockbuster products like the Mona M03,” Jiang said.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2970470750048263">article</a> was written by Li Anqi for 36Kr.

Xpeng ramps up production as Mona M03 orders surpass expectations

Xpeng Motors

… hours of speech daily.
A recent growth chart shows Doubao’s monthly active users (MAU) rising rapidly, outpacing competitors. ByteDance’s aggressive pricing strategy has fueled this growth. Since May, major players like ByteDance, Alibaba, Tencent, and startups such as Deepseek have engaged in a fierce price war. ByteDance, in particular, slashed its cost per 1,000 tokens to mere fractions of a cent, driving prices to the floor.
<figure id="attachment_150263" aria-describedby="caption-attachment-150263" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-150263" src="https://console.kr-asia.com/wp-content/uploads/2024/10/AIcpb-Generative-AI-MAU-MAR-634x1024.jpeg" alt="Diagram tracks the monthly active users (MAU) and monthly active rate (MAR) of Chinese generative AI platforms as of August 2024. MAR is defined as the average number of days a user engages with an app per month, averaged over the past three months. Doubao stands out with a considerably higher MAU compared to competitors such as Ernie and Xingye AI." width="480" height="776" srcset="https://console.kr-asia.com/wp-content/uploads/2024/10/AIcpb-Generative-AI-MAU-MAR-634x1024.jpeg 634w, https://console.kr-asia.com/wp-content/uploads/2024/10/AIcpb-Generative-AI-MAU-MAR-186x300.jpeg 186w, https://console.kr-asia.com/wp-content/uploads/2024/10/AIcpb-Generative-AI-MAU-MAR-768x1241.jpeg 768w, https://console.kr-asia.com/wp-content/uploads/2024/10/AIcpb-Generative-AI-MAU-MAR-951x1536.jpeg 951w, https://console.kr-asia.com/wp-content/uploads/2024/10/AIcpb-Generative-AI-MAU-MAR.jpeg 1080w" sizes="(max-width: 480px) 100vw, 480px" /><figcaption id="caption-attachment-150263" class="wp-caption-text">Diagram tracks the monthly active users (MAU) and monthly active rate (MAR) of Chinese generative AI platforms as of August 2024. MAR is defined as the average number of days a user engages with an app per month, averaged over the past three months. Doubao stands out with a considerably higher MAU compared to competitors such as Ernie and Xingye AI. Graphic sources: AIcpb, 36Kr, and InfoQ.</figcaption></figure>
However, competition is no longer solely about pricing—it has shifted to model performance. Tan introduced a new metric, peak tokens per minute (TPM), which measures a model’s data throughput over time. While most models support only 100,000–300,000 TPM, Doubao Pro can handle up to 800,000 TPM. For instance, a research institute’s document translation application may require 360,000 TPM, while an automotive AI application could need 420,000 TPM. Doubao Pro meets all these demands.
With the release of PixelDance and Seaweed, ByteDance has solidified its position in the AI video generation market, completing the final piece of its AI content creation puzzle. This move, alongside OpenAI’s recent advancements in voice capabilities, signals an arms race among major players in the AI space—leaving little room for smaller startups to compete.
<h3>The long battle between ByteDance and Kuaishou</h3>
ByteDance’s desire to dominate the AI landscape is evident. Its flagship video editing app, CapCut, and AI video tool, Jimeng AI, are overseen by Kelly Zhang, the former CEO of the Douyin business unit, indicating the company’s urgency in speeding up the launch of its new AI video models. This urgency is driven, in part, by an old competitor: Kuaishou.
In June 2024, Kuaishou integrated its video generation tool, Kling AI, into its video editing app Kwaiying. The launch came as the industry eagerly awaited a Chinese counterpart to OpenAI’s Sora, and Kling AI’s reception was overwhelmingly positive.
“One of the major challenges in video generation is cost and ensuring consistency across scenes,” an AI professional told 36Kr. “But Kling AI can generate two-minute videos, exceeding Sora’s 60-second limit.” In terms of camera continuity and maintaining logical relationships between scene elements, industry insiders consider Kling AI a top-tier Chinese product.
At a time when Sora remained unavailable to many users and <a href="https://kr-asia.com/can-shengshus-vidu-ai-text-to-video-generator-outcompete-its-rivals">Shengshu Technology’s Vidu AI</a> was still gaining traction, Kuaishou seized the moment, launching an open beta and offering Kling AI for free. Compared to the heavily resourced PixelDance and Seaweed, Kling AI’s development was fast and lean, with a team of only 20 people taking just three months to go from project inception to launch. By mid-September, Kling AI had already undergone nine iterations, offering higher-resolution videos, smoother movement, and more advanced camera controls.
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Kuaishou’s success with Kling AI can be attributed to its wealth of video data, a significant advantage. ByteDance, with its vast TikTok and Douyin datasets, is the most likely challenger, but it has experienced rare setbacks. Just one month before Kling AI’s launch, ByteDance rolled out Jimeng AI on CapCut, but the results were underwhelming. User feedback was lukewarm, with some criticizing Jimeng AI’s performance and pricing. "For a product with average performance, it’s outrageous to charge non-members for videos longer than three seconds," one user review remarked, highlighting the disappointment among CapCut’s user base.
The pressure on ByteDance is building. According to a 3D video generation specialist, most AI video companies tend to showcase their best outputs—often produced after several prompt attempts. The real test for Doubao’s models will come when they are fully deployed and put to practical use. Key performance indicators such as the ability to generate long shots, maintain spatiotemporal consistency, and handle increased resolution will be critical to its success.
For CapCut, which boasts over 300 million monthly active users, the cost of integrating advanced AI video technology presents a significant challenge. Striking the right balance between managing these costs and delivering high-quality results will only become more difficult as competition in the AI video generation space intensifies.
Having a first mover advantage is critical, and with Kling AI and Vidu AI already well-established in the market, ByteDance, as a latecomer, faces an uphill battle. The competition is fierce, and as more companies enter the fray, the fight for dominance in AI video generation has only just begun.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2965505573261575">article</a> was written by Deng Yongyi and Zhou Xinyu for 36Kr.

ByteDance enters AI video race with Doubao’s PixelDance and Seaweed

Bytedance

China Tech

Douyin’s life services business, covering in-store dining, in-store services, and hotel and travel, racked up about RMB 320 billion (USD 44.8 billion) in sales from January to August 2024, surpassing its full-year performance for 2023, sources told 36Kr.
After Pu Yanzi <a href="https://kr-asia.com/five-young-executives-assume-leadership-at-douyin-group-after-kelly-zhangs-departure">took over</a> as head of Douyin’s commercialization division last November, she set an aggressive 2024 sales target of RMB 600 billion (USD 84 billion)—nearly double the previous year. For comparison, Meituan’s in-store services hit RMB 700 billion (USD 98 billion) in 2023, with a goal of topping RMB 1 trillion (USD 140 billion) this year, a 50% increase.
Pu's appointment also marked a pivot toward greater commercialization of Douyin’s life services business. Upon stepping into the role, she wasted no time overhauling the company’s structure and strategy.
Her first move was to reorganize the business from industry-based segments—such as in-store dining, hotel and travel, and general in-store services—into regional divisions for southern, northern, and central China, respectively. She also created a department for national key accounts (NKAs), focusing on major chain businesses. To support this, she brought in several key leaders from ByteDance’s commercialization team. The company also streamlined its personnel in the first half of the year.
In April, Douyin moved its food delivery service under Douyin E-commerce to sharpen its focus on in-store services. But by August, the food delivery business was <a href="https://kr-asia.com/douyin-waimais-future-in-doubt-after-another-strategic-shift-by-bytedance">back under the division</a> overseeing life services.
Similarly, Meituan implemented its <a href="https://kr-asia.com/what-signals-has-meituan-sent-with-its-largest-organizational-overhaul-in-six-years">biggest organizational restructuring</a> in six years, consolidating its home delivery and in-store service groups under senior vice president Wang Puzhong.
In July, Douyin increased the commission rate for its accommodation business from 4.5% to 8%. According to briefing material seen by 36Kr, this increase was driven by the summer peak season for hotels and long-term cooperation agreements with several hotel chains, making the hike feasible. The dining industry, lacking such partnerships, saw no similar changes.
Unlike <a href="https://kr-asia.com/in-a-battle-between-meituan-and-douyin-who-will-prevail">last year’s aggressive approach</a>, Douyin’s life services business has been pulling back on subsidies in 2024. Reductions in both traffic and product subsidies have trickled down to consumers, who noticed that Douyin’s group buying vouchers are no longer cheaper than Meituan.
With the drop in price advantages, sales growth has slowed. According to 36Kr, Douyin’s life services business recorded sales of less than RMB 100 billion (USD 14 billion) in the first quarter and around RMB 110 billion (USD 15.4 billion) in the second quarter, representing only a 10% quarter-on-quarter increase. However, buoyed by the summer holiday season, July and August sales were nearly flat compared to the second quarter.
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For merchants, Douyin’s overall commission rate is lower than Meituan, but Douyin demands higher operational capacity from its business partners. Its traffic algorithm differs from Meituan, forcing merchants to adopt distinct strategies on each platform. The founder of a roast meat restaurant chain told 36Kr that Douyin is apt for brand promotion and customer acquisition, while Meituan is more effective for driving sales.
After last year’s meteoric rise, the gap between Douyin and Meituan has <a href="https://kr-asia.com/optimism-grows-at-meituan-as-losses-shrink-and-orders-surge-in-q1-turnaround">stabilized</a>, and Meituan no longer sees Douyin as a looming threat. Although commercialization remains a priority this year, boosting sales growth continues to be a major challenge for Douyin’s life services business.
Douyin declined to comment on the figures mentioned.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/2966774119075845">article</a> was written by Li Xiaoxia for 36Kr.

With RMB 320 billion in sales, Douyin’s life services business still faces uphill growth battle