Xiaomi Corp. launched its second electric vehicle, an SUV, and received over 289,000 orders within an hour, surpassing initial orders for its first EV. Lei Jun, the company's founder, highlighted Apple's failure in the automotive space and the advantages Xiaomi has in the Chinese EV market, such as state subsidies and a robust supply chain. Xiaomi's strategy combines proven designs from industry leaders like Tesla and Porsche with an affordable brand ethos appealing to young consumers. This approach has enhanced Xiaomi's reputation, making it a significant player in the tech and automobile sectors.
Lei Jun's comments at Xiaomi's EV launch celebrated the company's diversification into carmaking, contrasting its success with Apple's failure in the automotive sector.
Xiaomi received over 289,000 orders for its new SUV within an hour of its announcement, surpassing initial orders for its first electric vehicle.
Xiaomi's strategy involved adapting proven designs from competitors while maintaining an affordable ethos, appealing to young consumers and benefiting from China's strong EV ecosystem.
Yale Zhang emphasized that Xiaomi's brand recognition and ecosystem significantly influence young consumers when choosing an electric vehicle.
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