Xiaomi, one of Apple’s main rivals in China, is showing how to quickly make the switch from smartphones to electric automobiles, whereas Apple just said goodbye to its hopes for electric vehicles. Three years after entering the EV market, the Beijing-based IT giant said that it will introduce its first range of electric vehicles, the Speed Ultra 7 (SU7), on March 28 in around 30 Chinese cities.
The Outstanding Achievement of Lei Jun
Image Source: reuters.com
This milestone is an amazing achievement for Xiaomi’s CEO and billionaire founder, Lei Jun. Lei’s will to be successful in the automotive sector is demonstrated by Xiaomi’s move into electric vehicles (EVs), which is a shift from the company’s typical consumer electronics business.
Xiaomi's Strategic Approach
To accelerate its entry into the market, Xiaomi took advantage of China’s pre-existing EV infrastructure, in contrast to Apple, which had several manufacturing issues and ultimately scrapped its EV project. With the help of the Beijing Automotive Group, Xiaomi was able to quickly secure a production permit, which allowed it to go forward with its ambitious aspirations to create some 200,000 electric vehicles (EVs) a year.
Navigating a Competitive Landscape
The Chinese EV industry is extremely competitive, with well-established firms such as Tesla and BYD leading the scene, despite Xiaomi’s quick rise. With the SU7, Xiaomi hopes to enter the luxury market, but it will have to contend with a decrease in the demand for EVs and growing pricing rivalry among manufacturers.
Thoughts on Apple's Journey
Growing manufacturing challenges and budgetary constraints finally caused Apple’s ten-year quest for an electric car to collapse. Apple found it difficult to defend the large yearly investment in its automobile programme, even after dedicating huge resources to the development of autonomous vehicles.
In summary, Xiaomi’s triumphant debut in the electric vehicle sector is evidence of its adaptability and astute alliances. Xiaomi’s rapid development highlights the dynamic nature of the tech sector and the potential for unorthodox companies to upend established industries, whereas Apple’s hopes for an electric vehicle have come to an end. As Xiaomi is ready to launch its electric cars, it represents an important turning point in the development of the business and offers an engaging story of creativity and adaptability in the automobile industry.
I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person