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… another round of price wars. But whether the frontend warehouse model can sustain profitability in the long run remains uncertain.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3200188430352000">article</a> was written by Xie Yunzi for 36Kr.

JD.com’s 7Fresh ramps up warehouse store expansion in key cities

JD.com

East Asia

China

On-demand Services

E-commerce

Grocery Delivery

Retail

Consumer Economy

The second edition of Web Summit Qatar wrapped up on February 26, drawing a record 25,700 attendees to the Doha Exhibition and Convention Center. That’s an increase of more than 10,000 from last year, reinforcing the summit’s role as a global platform connecting leaders across technology, media, and government.
In the opening speech, Paddy Cosgrave, founder and CEO of Web Summit, called Qatar “a gateway not just to the Middle East, but to the world.” Cosgrave added that the experience of hosting Web Summit Qatar had been “beyond anything that [they] could have expected or planned for.”
Qatar and its neighbors on the Arabian Peninsula are actively shaping their economies to attract international business, countering global economic headwinds with diversified growth strategies. But ambition alone doesn’t draw enterprises. The key lies in offering well-developed infrastructure, stable and open policies, strong market opportunities, and a business-friendly environment. These factors serve as a more tangible invitation for companies looking to expand.
From hosting the FIFA World Cup to organizing Web Summit, Qatar has been making bold moves to cement its position as a business hub. The country is set to host Web Summit annually until 2028, further solidifying its status as a regional technology and investment center.
According to event organizers, this year’s summit brought together 723 investors and 1,520 startups. Estimates suggest that the number of exhibiting startups rose by 45%, while participation from Qatari startups surged by 140%. Beyond the summit floor, approximately 1,634 companies registered to establish offices in Qatar, with 156 securing business licenses during the event.
The surge in startup interest has been partly driven by the return of the Startup Qatar pavilion, a platform hosted by Invest Qatar to highlight its namesake initiative. <a href="https://startupqatar.qa/en">Startup Qatar</a>, the broader program, aims to attract tech startups to Qatar by offering funding, incentives, and other forms of support to help companies establish a foothold in the region.
<figure id="attachment_152181" aria-describedby="caption-attachment-152181" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152181" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Web-Summit-Qatar-2025-Startup-Qatar-Invest-Qatar-1024x683.jpg" alt="Photo of the Startup Qatar pavilion at Web Summit Qater 2025." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Web-Summit-Qatar-2025-Startup-Qatar-Invest-Qatar-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Web-Summit-Qatar-2025-Startup-Qatar-Invest-Qatar-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Web-Summit-Qatar-2025-Startup-Qatar-Invest-Qatar-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Web-Summit-Qatar-2025-Startup-Qatar-Invest-Qatar-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Web-Summit-Qatar-2025-Startup-Qatar-Invest-Qatar.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152181" class="wp-caption-text">One of this year’s Web Summit highlights was the return of the Startup Qatar pavilion, providing attendees with a platform to connect with Qatari stakeholders and explore opportunities in the emirate.</figcaption></figure>
Qatar’s policies offer strong incentives for foreign businesses. The country permits 100% foreign ownership, has no import duties, and provides exemptions for both corporate and personal income tax. Business registration and licensing have also been streamlined to facilitate easier market entry.
During this year’s Web Summit, the Qatar Financial Centre (QFC) announced additional incentives, including a four-year waiver on registration fees and tax exemptions for companies registering at the event. To further simplify business operations, QFC partnered with Qatar National Bank and Dukhan Bank to offer instant business account setup.
As Chinese enterprises expand globally, more are looking to Qatar as a strategic gateway to the Middle East and North Africa (MENA) region. Several companies unveiled new ventures at the summit:
<ul>
<li aria-level="1">Kingdee, an enterprise software provider, has officially established its regional headquarters in Qatar, positioning it as a bridge to the wider MENA market.</li>
<li aria-level="1">Yutong, which supplied electric buses for the 2022 FIFA World Cup, is building a 50,000-square-meter bus assembly plant in the Umm Al Houl Free Zone. The plant, with an initial annual capacity of 300 buses, supports Qatar’s goal of transitioning to 100% electric public transport by 2030.</li>
<li aria-level="1">Uisee, an autonomous driving company, has set up an R&amp;D and operations center at the Qatar Science and Technology Park. Earlier this year, Uisee partnered with Qatar Aviation Services and Qatar Airways to launch autonomous airport vehicle trials at Hamad International Airport.</li>
</ul>
whereRelatedArticle
Web Summit Qatar 2025 has also garnered significant international attention. Official data indicates that around 700 media outlets covered the event, including WSJ, Reuters, and Al Jazeera, among others. Major investors such as Greycroft, 500 Global, and Peak XV also participated.
Reflecting the long-term impact of the summit, early-stage startups that attended its inaugural edition last year have collectively raised USD 120 million in funding over the past year.
With strong capital flows and a business-friendly environment, Qatar is positioning itself as a prime destination for international expansion. For Chinese enterprises, it presents an opportunity to compete on a global stage, testing their strategies in a region that is rapidly evolving into a critical business hub.

From World Cup to Web Summit: Qatar strengthens its global business appeal

Qatar

Middle East

… formats.
whereRelatedArticle
<h3>Agros, Phnxx, Yinson GreenTech, and more made recent headlines:</h3>
<ul>
<li aria-level="1"><a href="https://www.agrosglobal.com/">Agros</a>, a Singapore-based provider of solar-powered irrigation solutions, closed a USD 4.25 million Series A funding round co-led by Gaia Impact, Schneider Electric Energy Access Asia, and Wavemaker Impact, with new participation from Global Innovation Fund. Silverstrand Capital and PropertyGuru founder Steve Melhuish also invested.</li>
<li aria-level="1"><a href="https://www.phnxx.io/">Phnxx</a>, a startup developing containerized battery and solar solutions, raised SGD 1.5 million (USD 1.1 million) in a seed funding round. Investors include Synertec, Engine Factory, Pacific Channel, LaunchVic’s Hugh Victor McKay Fund, and climate-focused angel investors.</li>
<li aria-level="1">Yinson GreenTech, the sustainable technology arm of Malaysia’s Yinson Holdings, secured an undisclosed investment from Khazanah Nasional Berhad through its Dana Impak initiative to expand <a href="https://chargev-ygt.com/">chargEV</a>, its electric vehicle charging business.</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: Intudo leads Elevarm’s pre-Series A round, Shoppable secures seed investment, three Malaysian firms raise funding, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Singapore

Malaysia

Indonesia

Philippines

Southeast Asia

… for JD.com’s JD Daojia service concurs:
<blockquote>"I still talk to my former Meituan colleagues, and not one of them has asked me about JD.com’s food delivery push. Interestingly, external industry players seem far more curious."</blockquote>
Head-to-head, Douyin poses a greater threat because it offers something Meituan doesn’t have: organic content-driven traffic.
The battle with JD.com, however, will be a test of execution and commitment.
Meituan is a company that thrives on competition. When food delivery competition turned brutal seven to eight years ago, Meituan outmaneuvered rivals by aggressively poaching riders, running deep discounts, and pressuring merchants into exclusivity deals. And it won.
whereRelatedArticle
For JD.com, fighting from behind means higher costs.
So far, JD.com’s biggest play has been its zero-commission promise. But even that hasn’t fully materialized yet.
For Xin’s coffee chain, JD.com still charges a 6% commission, which is just 1% lower than Meituan’s rate.
His JD.com contact admitted that tea and beverage brands presently don’t qualify for the zero-commission offer, but added that major KA brands can apply for a 4% rate.
Another restaurant chain Xin knew was also not eligible to waive the commissions.
Meanwhile, Zheng pointed out that commission fees aren’t the biggest cost on Meituan—discounts and marketing expenses are. Discount coupons, first-time buyer deals, and delivery fee reductions all contribute to these two cost areas.
"These two factors are way bigger expenses than commission rates. JD.com will need to decide who covers these costs,” Zheng said.
<h3>Meituan’s quiet countermoves</h3>
Although Meituan hasn’t openly engaged in a pricing war with JD.com, it hasn’t been idle either.
One of its first responses was to push rider social security policies into the spotlight.
JD.com has repeatedly claimed to be the first platform to offer full benefits to riders, framing the move as an industry disruptor. Meituan hit back, insisting that JD.com was "jumping the gun."
But industry insiders say the impact won’t be immediate.
According to Goldman Sachs, the first-year cost increase for Meituan due to rider social security is projected at RMB 0.1–0.2 (USD 0.014–0.028) per order, with total additional costs reaching RMB 2–3 billion (USD 280–420 million).
Given that Meituan’s profit per order (as of Q3 2024) was RMB 1.35 (USD 0.2), the financial impact remains manageable. Both Meituan and JD.com still primarily rely on gig workers, meaning structural change will take time.
Then, on February 27, Meituan quietly launched a new initiative, offering merchants hardware subsidies and extra traffic exposure.
A Meituan employee told 36Kr: "This program has existed internally for three years, but outside of Zhejiang, no one really pushed it. Now, it’s suddenly on the Meituan homepage."
The timing was telling—it appeared to be a subtle response to JD.com’s quality-focused branding.
Meituan is also gently discouraging agencies from working with JD.com.
On February 22, a Meituan sales rep casually told Zhao not to “mess around with JD.com."
But Zhao remains undecided: "I need to think carefully—should I go with JD.com or stick with Meituan?"
Industry veterans know that Meituan’s deep operational expertise makes it difficult to dislodge.
"Meituan’s backend has hundreds of promotional tools, on-the-ground sales reps constantly visiting stores, and advanced pricing algorithms. Even Ele.me still struggles to match them." Xin said.
That said, Xin has assigned a dedicated employee to monitor JD.com’s food delivery progress.
"JD.com says it’ll ramp up consumer subsidies from March to May. We’ll wait and see,” Xin added.
For JD.com, staying in the game remains the top priority.
In a strong show of commitment, the company announced on January 25 its formal offer to acquire full control of Dada Nexus, reinforcing its long-term vision for food delivery.
With JD.com continuing its aggressive push, competition looks set to heat up from here.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3194167361092994">article</a> was written by Ren Cairu for 36Kr.

JD.com steps into food delivery, but Meituan isn’t flinching—yet

Food Delivery

Consumer Services

… href="https://xtractify.ai/">Xtractify</a>, a developer of AI engines for business process automation and BI analytics, streamlining operations, compliance, and decision-making.</li>
</ul>
<h3>The award winners</h3>
After an exciting showcase by the startup finalists, Paix was crowned the winner, while Shieldbase and Vstream were named runner-ups.
<figure id="attachment_152201" aria-describedby="caption-attachment-152201" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152201" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-1337-Ventures-Soalen-Sittampalam-1024x683.jpg" alt="Photo of Soalen Sittampalam, lead venture architect at 1337 Ventures, speaking at the Alibaba Cloud Malaysia Demo Day held on February 27." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-1337-Ventures-Soalen-Sittampalam-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-1337-Ventures-Soalen-Sittampalam-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-1337-Ventures-Soalen-Sittampalam-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-1337-Ventures-Soalen-Sittampalam-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-1337-Ventures-Soalen-Sittampalam.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152201" class="wp-caption-text">Photo of Soalen Sittampalam, lead venture architect at 1337 Ventures, speaking at the Alibaba Cloud Malaysia Demo Day held on February 27. Photo courtesy of Alibaba Cloud.</figcaption></figure>
"What stood out to me about Paix is that [the presenter] has clearly defined the boundary of the problem or process he is solving for, and he has done it effectively and achieved solid traction,” said Sittampalam of 1337 Ventures.
“Shieldbase is an ambitious application, and my primary concern would be data privacy within organizations. However, [it has] addressed this by assigning permissions and rights based on roles, which makes it a compelling enterprise solution,” Sittampalam added. “As for Vstream, [it is] dominating a real and growing niche of drone insurance, with an impressive traction strategy targeting the recreational market,” he continued.
<figure id="attachment_152202" aria-describedby="caption-attachment-152202" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152202" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-Paix-Tech-Kayel-Lee-1024x683.jpg" alt="Photo of Kayel Lee (center), founder of Paix Tech, being awarded the demo day’s top prize during the February 27 event." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-Paix-Tech-Kayel-Lee-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-Paix-Tech-Kayel-Lee-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-Paix-Tech-Kayel-Lee-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-Paix-Tech-Kayel-Lee-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Alibaba-Cloud-Malaysia-Demo-Day-2025-Paix-Tech-Kayel-Lee.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152202" class="wp-caption-text">Photo of Kayel Lee (center), founder of Paix Tech, being awarded the demo day’s top prize during the February 27 event. Photo courtesy of Alibaba Cloud.</figcaption></figure>
For Paix’s founder, Kayel Lee, the recognition marks a “monumental achievement.”
“This win gives us tremendous validation of our vision to transform complex financial operations through AI and hyperautomation. Being recognized by one of the most respected names in the tech industry is a testament to the hard work and innovation we’ve poured into this venture,” Lee told KrASIA.
For Shieldbase, being among the top three reinforces its potential for global expansion. “The opportunity to collaborate with Alibaba Cloud, leveraging its infrastructure and expertise at scale, can be a game changer for Shieldbase’s journey—accelerating our global expansion and enterprise adoption,” said Diego Rojas, CEO of Shieldbase.
Meanwhile, Vstream’s CEO, Saravanan Letchumenan, praised the event’s structure and diverse panel of judges, noting that the program was well-organized with the right tools for participants.
<h3>Alibaba Cloud’s commitment to startups</h3>
The Malaysia demo day was organized as part of Alibaba Cloud’s ongoing commitment to supporting emerging businesses in Southeast Asia. Through initiatives like the <a href="https://www.alibabacloud.com/en/startup">Startup Catalyst Program</a>, participating startups gain cloud credits, mentorship, and investor access.
More broadly, the program helps startups in the region scale and innovate by providing essential cloud resources and tools. Those focused on AI receive additional support through Alibaba Cloud’s large language model services and other AI-driven offerings, equipping them with tools to develop and deploy cutting-edge solutions.
This article was written in partnership with Alibaba Cloud.

Paix Tech wins top prize at Alibaba Cloud’s Malaysia demo day

Alibaba Cloud

… governments, including those of Chongqing, Shanghai, Shenzhen, Guangzhou, Qingdao, and Ningbo. These governments are strong backers of little-known chipmakers such as XLMEC, Shanghai Dingtai Jiangxin Technology, Runpeng Semiconductor Shenzhen, and WY Semi, which are working on mature chips for connected devices, cars and other applications.
Automaker BYD has been building its own plants for chips used in vehicles and consumer electronics, and also took over plants of companies that had gone out of business. Huawei Technologies, with strong support from the Shenzhen local government and others, is behind chipmakers such as PengXinWei, Swaysure Technology, and SiEn (QingDao) Integrated Circuits, Nikkei Asia <a title="" href="https://asia.nikkei.com/Spotlight/The-Big-Story/China-s-chip-industry-fights-to-survive-US-tech-crackdown" target="_blank" rel="noopener">earlier reported</a>.
Zhao, SMIC's co-CEO, said he expects stronger competition from the second half of this year as more capacity from these new players comes online despite an uncertain demand outlook. "The trend for the price is unclear for the second half, but it will not go up," Zhao said.
Mature chips have also become a political issue. In the waning days of the Joe Biden administration, the US initiated an unprecedented probe into China's less advanced chips and compound semiconductors. Washington acknowledged, however, that it has little insight into the flow of such chips and how many devices sold in the US use China-made mature chips. Nevertheless, it aims to phase out all Chinese semiconductors from government projects by 2027.
While US export controls have curbed China's advances in cutting-edge chips, they have at the same time accelerated the country's development of less advanced but still vital components and chips.
China launched the third phase of its China Integrated Circuit Industry Investment Fund—known as the Big Fund—in 2024 to further boost its chip industry, including the materials and equipment segments, in the face of a tightening US clampdown. Combined with the first two phases, introduced in 2014 and 2019, this brings the total amount of the fund's support to about RMB 688 billion.
The nation's 14th five-year plan unveiled in 2021, in addition to promoting SiC and gallium nitride (GaN), included moves to upgrade China's mature chip and memory technologies, sparking concerns about global oversupply in all of these segments.
Support for 28-nm chip production and its related ecosystem increased particularly after SMIC was placed on a trade blacklist in late 2020. Measures included a ten-year corporate income tax exemption for eligible chipmakers and tax deductions for R&amp;D expenses. Beijing also outlined plans to build <a href="https://asia.nikkei.com/Business/Technology/Tech-Asia/China-s-state-backed-labs-provide-a-lifeline-for-US-blacklisted-chip-suppliers">national laboratories,</a> science projects, and educational programs in the fields of artificial intelligence, quantum computing, semiconductors, and critical components.
"When the governments start getting involved, then the criteria of success also changes," said Andy Tsay, business and analytics professor at the Leavey School of Business at Santa Clara University. "The money that's going into it is more than just the business expense, and China is doing it, too. They are trying to strengthen their domestic industry."
Such efforts are paying off, though not as quickly as Beijing might hope. China's share of locally produced chips rose from around 15% before the Covid-19 pandemic to more than 20% by 2024, according to data from TechInsights, leaving the country a long way from true self-reliance. Even at the projected annual growth rate of 12.3% from 2023 to 2028, locally made chips would only account for about 26% of its overall market.
"It is essentially impossible for China to make significant strides to become self-sufficient for its IC (integrated circuit) needs—both memory and non-memory—within the next five years and probably not even within the next ten years," said Brian Matas, a market research analyst with TechInsights.
But the market is already being impacted by China's localization push.
Doris Hsu, chairperson of GlobalWafers, the world's third largest supplier of base material for computer chips, said the slowdown of electric vehicle demand and intensified Chinese competition has made the SiC market very challenging.
"The internal competition in China is too intense. There are too many [Chinese] companies swiftly expanding their capacity … and as a result you can buy silicon carbide so easily everywhere," Hsu told Nikkei Asia.
With falling prices, growing supply and soft demand, "in the end, it's very difficult for everyone to have a proper profitability," she added.
Marco, the chip equipment executive, said China's initial strategy is to use extremely low prices to grab market share.
More extreme measures include purchasing production machines capable of making relatively advanced 8-inch SiC wafers, even if the company is not yet able to make these wafers at an acceptable quality. The company then cuts the wafers down to 6 inches, keeping the best part of the materials, two industry executives told Nikkei Asia.
Because defects in an SiC wafer tend to diffuse toward its edges, the central area of an eight-inch wafer can sometimes provide a six-inch section of usable substrate that is of higher quality than can be produced directly on six-inch equipment.
While this approach may not be the most economical, it does help Chinese makers bridge the gap in quality until they are able to get their production capabilities up to global standards.
"Sometimes I wonder how that could be sustainable, but it seems it's a very cruel knockout match," Marco said. "We expect many Chinese players as well as foreign players will get hurt. Many of them already have, and eventually many will have to exit these bloody games."
This article first appeared on <a href="https://asia.nikkei.com/Business/Technology/Tech-Asia/Global-tech-industry-braces-for-China-shock-in-mature-chips">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>.

Global tech industry braces for "China shock" in mature chips

SMIC

Deep Tech

Semiconductors

At the start of the year, BYD launched a campaign to push smart driving features into the mainstream. In response, both electric vehicle startups and legacy automakers—including joint ventures (JV)—have begun positioning smart driving as a key selling point.
On March 6, GAC Toyota introduced its first smart EV, the bZ3X, unveiling seven variants priced from RMB 109,800–159,800 (USD 15,372–22,372). This marks the company’s entry into a new price range for smart electric SUVs, significantly lowering the barrier to ownership.
Notably, the bZ3X is also GAC Toyota’s first model equipped with light detection and ranging (LiDAR) technology, reducing the cost of LiDAR-assisted advanced driver assistance systems (ADAS) to RMB 140,000 (USD 19,600).
<figure id="attachment_152152" aria-describedby="caption-attachment-152152" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152152" src="https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior-1024x576.jpg" alt="Image highlights the bZ3X, GAC Toyota’s first smart electric vehicle model." width="1024" height="576" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Exterior.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152152" class="wp-caption-text">Image highlights the bZ3X, GAC Toyota’s first smart electric vehicle model. Image and header image source: GAC Toyota.</figcaption></figure>
In recent years, BYD’s aggressive pricing strategy—combined with the rise of Xiaomi, Nio, Xpeng, Li Auto, and Huawei-affiliated brands—has accelerated EV adoption, forcing JV automakers to cut prices to retain market share. Many have struggled to keep up.
But 2025 could mark a turning point. The biggest shift? JV automakers are now embracing intelligent technologies, moving beyond pricing battles to compete on innovation.
GAC Toyota’s decision to integrate LiDAR and high-level ADAS into the bZ3X underscores this shift.
On the hardware front, the bZ3X’s ADAS variant features Nvidia’s Orin X chip, a single LiDAR unit, and 27 onboard sensors—meeting industry benchmarks for advanced ADAS systems.
On the software side, GAC Toyota has partnered with leading Chinese autonomous driving firm Momenta, integrating its latest end-to-end AI model to enhance the bZ3X’s smart driving capabilities.
According to GAC Toyota, the system operates on a “data flywheel” mechanism, continuously improving by leveraging short- and long-term memory to recognize rare, long-tail driving scenarios. Unlike traditional systems that rely on high-definition maps, the bZ3X’s ADAS is designed to navigate like a human, anticipating hazards in complex conditions—such as pedestrians emerging from urban alleys or driving in heavy rain at night.
Inside, the bZ3X features an intelligent cockpit with a 14.6-inch multifunctional touchscreen, a Qualcomm Snapdragon 8155 automotive-grade chip, and four-zone voice interaction. Additional highlights include a panoramic sunroof and 50-watt ultrafast wireless charging. In terms of in-cabin experience, the bZ3X appears on par with offerings from China’s leading EV startups.
<figure id="attachment_152150" aria-describedby="caption-attachment-152150" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152150" src="https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior-1024x576.jpg" alt="Image depicts the interior of GAC Toyota’s bZ3X EV model." width="1024" height="576" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior-480x270.jpg 480w, https://console.kr-asia.com/wp-content/uploads/2025/03/GAC-Toyota-bZ3X-Interior.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152150" class="wp-caption-text">Image depicts the interior of GAC Toyota’s bZ3X EV model. Image source: GAC Toyota.</figcaption></figure>
Beyond intelligence and affordability, GAC Toyota continues to emphasize safety, drawing on decades of automotive manufacturing expertise.
According to official specifications, more than 70% of the passive safety body structure is made from high-strength steel, with 30% composed of 1,500-megapascal thermoformed materials. The central body structure incorporates a full thermoformed “cross-brace structure” and a “five-floor beam design” for enhanced rigidity.
For battery safety, the bZ3X exceeds China’s national protection standards. It is engineered to prevent fires or explosions even in the event of a single battery cell thermal runaway, ensuring that thermal transmission won’t trigger failures in adjacent cells.
GAC Toyota said the bZ3X adheres to Toyota’s philosophy of safety redundancy, featuring a multi-layered safety architecture that includes dual brake assist systems, dual power brake assist sources, a cross-control electric parking brake ECU, and an emergency power-off button.
The cabin is also designed with comfort in mind. The front seats can recline fully to create a flat resting area, while the rear seatbacks offer a 20-degree adjustable recline for added flexibility.
The bZ3X is GAC Toyota’s first independently developed model in China, signaling a strategic pivot toward competing on ADAS, smart cockpits, and spacious design. By combining Toyota’s legacy of safety and quality with intelligent features, GAC Toyota aims to reignite consumer interest in JV-manufactured EVs.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3195605568929156">article</a> was written by Li Anqi for 36Kr.

GAC Toyota enters smart EV race with LiDAR-equipped bZ3X

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… hinted that Butterfly Effect might mitigate competitive pressure by fostering an open ecosystem—encouraging third-party integrations and potentially open-sourcing parts of its tech stack.
Manus remains in an invitation-only phase, accessible via a web interface. It initially launched in English but has since expanded to support nine additional languages, including Chinese, Japanese, and Spanish.

5 things to know about Manus, the AI agent everyone's debating

Artificial Intelligence

… infrastructure</h3>
Sogni AI, a decentralized image generation platform, has reportedly received USD 2 million in a funding round co-led by Comma3 Ventures and Republic Ventures, according to <a href="https://www.investing.com/news/stock-market-news/exclusive-ai-image-generator-app-sogni-ai-secures-2-mn-at-25-mn-valuation-3920309">Investing.com</a>. Other investors include Contango Digital, Oyster Ventures, ARC, DEXT Force Ventures, Nosana, Formless Capital, Gecko Ventures, and industry veterans.
The funding will accelerate the development of Supernet, a decentralized physical infrastructure network designed to optimize AI-driven content creation. Sogni AI claims Supernet offers rendering speeds significantly faster than traditional cloud services by distributing AI workloads across a decentralized network.
The company is valued at USD 25 million following the latest round and aims to democratize AI-driven content creation by reducing reliance on centralized AI models, potentially lowering costs and improving accessibility for creative professionals.
<h3>Choco Up and Wonder Capital partner launch private credit fund for APAC SMEs</h3>
Choco Up, a Hong Kong-based growth financing platform, has partnered with Wonder Capital Group, an independent investment management firm, to launch a USD 50 million private credit fund targeting asset-light small and medium enterprises in the Asia Pacific region.
The initiative has completed its first close at USD 10 million, backed by the CMAG Private Credit Fund led by Wonder Capital. The fund will provide non-dilutive, revenue-based financing solutions for e-commerce, software-as-a-service, and technology companies.
<figure id="attachment_152167" aria-describedby="caption-attachment-152167" style="width: 1024px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-large wp-image-152167" src="https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-1024x683.jpg" alt="Photo from the ceremony where Choco Up and Wonder Capital Group signed a memorandum of understanding to jointly launch the private credit fund." width="1024" height="683" srcset="https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-1024x683.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-768x512.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony-1536x1024.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/03/Choco-Up-Wonder-Capital-MOU-Signing-Ceremony.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-152167" class="wp-caption-text">Photo from the ceremony where Choco Up and Wonder Capital Group signed a memorandum of understanding to jointly launch the private credit fund. Photo courtesy of Choco Up.</figcaption></figure>
<h3>Flagright secures seed funding, Y Combinator among investors</h3>
Flagright, an anti-money laundering (AML) and risk management platform, has secured USD 4.3 million in a seed funding round led by Frontline Ventures, with participation from Y Combinator, Pioneer Fund, Moonfire Ventures, and other fintech investors.
The company provides real-time transaction monitoring, automated case management, and AI-powered risk scoring to help financial institutions reduce false positives and improve alert investigation times. Flagright said it currently serves customers across six continents with its banking-grade compliance platform.
The new funding will support Flagright’s expansion into North America, with new offices in New York and San Francisco, and the launch of its “AI forensics” solutions.
whereRelatedArticle
<h3>Airwallex, Finory, StarFive, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Airwallex, a cross-border payments and financial platform, agreed to acquire CTIN Pay, a licensed intermediary payment service (IPS) provider in Vietnam. The acquisition is pending customary closing conditions.</li>
<li aria-level="1">Finory, a Malaysian personal finance management app, raised an undisclosed sum of investment from 1337 Ventures.</li>
<li aria-level="1"><a href="https://www.starfivetech.com/en">StarFive Technology</a>, a Chinese chip design company backed by Baidu, raised an undisclosed sum from Hong Kong Investment Corporation Limited (HKIC).</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: Agros and Phnxx raise funding, GlobalData acquires Ai Palette, Malaysia’s Khazanah backs chargEV, and more

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