After nearly a decade of attempts, Apple ceased its electric car project, which cost $10 billion. Meanwhile, Xiaomi launched its first electric vehicle in just three years, delivering 135,000 cars and aiming to double that number by 2025. This contrast illustrates China's stronghold on the electric vehicle supply chain, allowing companies like Xiaomi to develop efficiently. Other Chinese firms, including Huawei, are also rising in the EV market, creating innovations while navigating challenges like U.S. sanctions. Xiaomi's journey marks a significant shift in the industry's competitive landscape.
Apple's decade-long ambition to produce an electric car has been abandoned, highlighting the contrast with Xiaomi's rapid development and successful launch of its vehicles in just three years.
China's supremacy in the electric vehicle supply chain has enabled companies like Xiaomi to produce vehicles quickly and affordably, underscoring the competitive landscape in the automotive sector.
Xiaomi's electric vehicle growth, aiming to double its deliveries by 2025, demonstrates the effectiveness of leveraging local supply chains amidst increasing competition.
The emergence of other Chinese firms like Huawei and Leapmotor in the EV sector is reshaping the auto market, as they innovate despite external pressures such as U.S. sanctions.
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