The company became a household name selling budget smartphones, but is now staking its reputation on electric vehicles.
Discover the article written by Aaron MC Nicholas for The Wire China, in collaboration with Yu Yang, PhD, Principal Analyst, Automotive Semiconductors at Yole Group.
When Xiaomi boss Lei Jun took to the stage at the end of March to launch the company’s first electric vehicle, it was the climax of a three-year journey on which he has bet his professional legacy. In March 2021, he had called the Xiaomi EV project his last major professional venture, raising the stakes for the 54-year-old billionaire entrepreneur who built his company’s fortune by selling millions of budget smartphones. “I have realized that it’s so hard to make a car,” admitted Lei. “It’s so hard [but] I didn’t expect Apple to quit.”…
Read the full article here.
Source: https://www.thewirechina.com/
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