New CEO for a new strategy oriented towards foreign markets
Aiways has announced the appointment of Hugo Zhu as its new CEO. The latter’s primary mission will be to lead the development of the company and to focus the manufacturer’s activities more on foreign markets.
The decision was announced after a “closed meeting of managers and investors which lasted several weeks” it is specified.
During a transition period, the new CEO will be supported by Samuel Fu (also known as Fu Qiang), the company’s founder. As part of his management mission, he will also assume the day-to-day management of the company during this phase.
Lean organizational structure
One of the first tasks of the new leader will be to give the company a lean organizational structure. Aiways does not explain precisely what this means, however mentioning “different communication” and “efficiency”.
Employees should thus be able to “take on more responsibilities and create a more flexible and responsive working environment”.
A turnover of CEOs … and changes in strategy
Aiways had already changed CEOs twice in 2022 – once in January and another in November. The company was founded by Fu in 2017 and was expected to become an internationally renowned electric car manufacturer.
Therefore, unlike Nio, Xpeng or Li Auto, Aiways quickly focused on international expansion rather than sales in the Chinese market.
According to media at the time, it was when an investor extended his influence in a financing round in January 2022 and former Nio director Zhang Yang was appointed CEO of Aiways that the company changed its strategy and wanted to gain more market share in China.
This approach apparently did not work, as in June 2023 reports of Aiways’ financial problems and negotiations with potential investors surfaced.
It is unclear whether the new CEO change is due to the influence of a new investor. However, the fact that founder Samuel Fu, in favor of an outward-looking strategy, is now working with new CEO Hugo Zhu underlines the abandonment of the Chinese market-oriented strategy.
Our opinion, by leblogauto.com
The key word: agility! If the term refers to a method of organization that is currently very fashionable, the fact remains that the manufacturer seems to be finally finding its way…. “The simplified structure, the resolution of internal problems, customer orientation and the strengthening of research and development for markets outside China are strategic steps on the way to a more agile and efficient organization” we are promised. …. Let’s hope so.