Senior executive of BAIC Group said to join in NIO Capital

Shanghai (Gasgoo)-Currently, Li Feng, president of new technology research institute of BAIC Group, was said to leave BAIC and to serve as a copartner in NIO Capital. His appointment is likely to open to the public in recent days.

Li Feng, a talent in auto industry, has abundant experience in model R&D, marketing, manufacturing and company management. His joining in NIO Capital will strengthen the competitiveness of NIO Capital.

During 1996 and 2004, Li Feng had served such positions as sales manager, director of technology center and vice general engineer, etc. at Beiqi Foton Motor. During 2005 and 2008, Li had served as the general manager of Chery's sales company and vice president of Chery Automobile, showing his great talent in marketing. From 2009 to 2013, he was named secretary of the party committee, standing deputy general manager and president of Beijing Hyundai. In 2013, he was appointed president of BAIC Motor.

At the beginning of 2017, BAIC Group underwent a personnel reshuffle. Li Feng served as a member of the standing committee of the party committee of BAIC Group and president of new technology research institute of BAIC Group, but no longer the president of BAIC Motor.

With a rich experience in marketing and technological R&D, Li Feng made a great contribution to the development of Beijing Hyundai during his tenure. He also boosted the development of BAIC Motor when he served as the president of BAIC Motor, making the annual sales growth of all models reach around 17%.

NIO Capital is a private equity fund co-initiated by NIO, Sequoia Capital and Hillhouse Capital, targeting to raise RMB 10 billion (about $ 1.5 billion) to promote the development of domestic and international NEV industry.