Aiways, the Chinese electric car manufacturer, has announced the appointment of Hugo Zhu as its new CEO, signalling a strategic shift back to focusing on overseas markets. The decision follows a series of discussions and closed-door meetings involving executives and investors over several weeks.
Zhu’s primary objective as the new CEO will be to streamline the company’s organizational structure, although specific details about the planned changes have not been disclosed by Aiways. Reports suggest that the reorganization will aim to foster better communication and efficiency within the company, empowering employees to take on increased responsibilities and creating a more adaptive working environment. Samuel Fu, the company’s founder, will support Zhu during a transition period as he continues to fulfill his role as the company’s president, overseeing day-to-day business operations.
The appointment of Hugo Zhu marks the third change in Aiways’ CEO position in 2022. Established in 2017 by Samuel Fu, Aiways initially set its sights on becoming an internationally recognized electric car manufacturer, diverging from its peers like Nio, Xpeng, or Li Auto, which primarily focused on the Chinese market. However, the company’s strategy reportedly shifted in January 2022, when former Nio manager Zhang Yang was appointed CEO, leading Aiways to emphasize gaining more market share within China.
However, this shift in strategy appears to have encountered challenges, with reports surfacing in June 2023 about financial difficulties at Aiways and negotiations with potential investors. The exact reasons for the CEO reshuffling have not been made public, but the return to an overseas focus under the leadership of Hugo Zhu, along with the involvement of founder Samuel Fu, highlights the company’s renewed emphasis on international expansion.
Alexander Klose, Vice President of Aiways Overseas Operations and Managing Director of Aiways Automobile Europe GmbH, expressed optimism about the changes, stating that the simplified structure, internal problem-solving, customer-centric approach, and enhanced research and development efforts for overseas markets are strategic steps towards building a more agile and prosperous organization. The new leadership aims to position Aiways for future improvements and growth as it renews its commitment to the global electric vehicle market.
