Part 9/10:
Xiaomi's entry into the EV market not only established a new revenue stream but also showcased Lei Jun's vision for the brand. With ambitions to elevate its status and carve out a place against established competitors like Tesla and BYD, Xiaomi aims to leverage its existing customer loyalty, innovative marketing strategies, and smart connectivity in their vehicles.
With models priced carefully for the mid-to-high end market segment, Xiaomi’s EV ambitions position it similarly to its smartphone strategy—offering high performance at competitive prices. The unveiling of a new "Ultra" line set to launch in late 2024 further illustrates this trajectory.