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Xiaomi's Meteoric Rise and Ambitious Shift to Electric Vehicles
Xiaomi, a brand that has carved a niche in the global tech scene, has transformed the perception of what a Chinese smartphone can be. Founded by Lei Jun in 2010, Xiaomi quickly rose to prominence with its innovative products and compelling pricing strategy. However, the company's fortunes took a turn as the smartphone market matured. In a surprising move, Xiaomi announced in March 2021 its intention to enter the electric vehicle (EV) sector, showcasing its ambition to diversify and conquer new frontiers.