Summary: Xiaomi, led by Lei Jun, successfully entered the electric vehicle (EV) market with its SU7 sedan and SUV, outperforming Apple’s failed Project Titan. Xiaomi’s grounded approach, leveraging existing designs and a strong supply chain, resonated with its loyal customer base, the “Mi Fans”. Despite facing challenges like a fatal accident involving its advanced driver assistance technology, Xiaomi’s EVs remain popular, with a target of 350,000 units in 2025.

Link: https://www.theedgesingapore.com/news/electric-vehicles/how-xiaomi-succeeded-where-apple-failed