360 Founder Zhou Hongyi Rules Out Future EV Investments, Recommends AI Agents
Zhou Hongyi, founder and chairman of 360 Group, publicly stated that he will no longer invest in new energy vehicles after suffering losses from his investment in Neta Auto. He advised entrepreneurs to pivot toward artificial intelligence and focus on mastering AI agents instead. This statement highlights how prominent Chinese tech figures are retreating from the heavily saturated electric vehicle market to double down on generative AI and intelligent software agents. It reflects a broader industry strategic shift as capital flows away from hardware-heavy EV ventures toward rapidly advancing AI applications. 360 Group initially planned to invest 2.9 billion RMB in Neta Auto in 2021, spending 1.9 billion RMB to become its largest non-management shareholder before forfeiting its remaining funding obligations in 2022. Neta Auto ultimately filed for bankruptcy review in 2025, leading to its founders being added to China's dishonest judgment debtor list in early 2026.
## BACKGROUND
360 Group is a major Chinese internet security and technology enterprise that previously joined the trend of tech companies entering the smart electric vehicle sector. AI agents are autonomous artificial intelligence systems capable of planning workflows, making decisions, and using external tools to perform multi-step tasks independently.