Zhou Hongyi says he will not invest in new energy vehicles again

Zhou Hongyi, founder and chairman of 360 Group, stated during the fifth Beidou Large-scale Application International Summit in Zhuzhou that he will not invest in new energy vehicles (NEVs) again, noting that he has ‘already suffered a loss’ in that sector.

This decision follows 360 Group's previous involvement with Neta Auto. In 2021, 360 planned to invest 2.9 billion yuan in Neta Auto, eventually becoming a major shareholder. However, in 2022, the company opted to transfer its remaining unpaid equity obligations and ceased additional investment. Neta Auto subsequently faced bankruptcy applications in 2025.

Zhou emphasized that current opportunities in artificial intelligence and embodied intelligence are more significant. He also discussed the importance of security in Beidou applications, advocating for an ‘AI governing AI’ approach to manage automated attacks and vulnerabilities. He further advised entrepreneurs to master the use of AI Agents to manage personal and corporate knowledge bases.