Lei Jun, founder of Xiaomi, took a jab at Apple's failures in the automotive sector during the launch of a new electric vehicle. This article reviews Xiaomi's successes and future plans.
Jabs at Apple
At the event in Beijing, where Xiaomi's new electric SUV was unveiled, Lei Jun made a pointed comment towards Apple. He noted that iPhone users would be able to seamlessly sync their devices with Xiaomi vehicles. "Since Apple stopped developing its car, we’ve given special care to Apple users," he said.
Xiaomi's Strategy in EV Production
Xiaomi has emphasized a pragmatic approach to electric vehicle production, which has led to its successful launch. Over 289,000 orders for the new SUV were placed within an hour, surpassing the demand for the SU7 sedan introduced in March 2024. The company invested over $1.6 billion and built ties with over 100 component manufacturers, helping to avoid supply chain issues that plagued its smartphone business.
Global Market Potential
Lei Jun stated that despite criticism and competition from giants like Tesla and BYD, Xiaomi hopes to enter the international market as early as 2027. Although Xiaomi does not produce cars in the sub-$20,000 category, it aims to expand its share and plans to increase deliveries to 350,000 vehicles by 2025.
Xiaomi is making confident strides in the automotive industry and intends to leverage opportunities available to companies entering this sector at later stages.
