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Xiaomi founder’s bold EV bet is paying off where Apple’s failed
Xiaomi's founder Lei Jun celebrated the launch of the company’s second electric vehicle in Beijing, indicating success in carmaking where Apple failed after investing heavily in its project. Lei emphasized that Xiaomi has catered to Apple users by ensuring their devices can sync with Xiaomi vehicles.
Key points
- Xiaomi launched its second electric vehicle, an SUV, in Beijing.
- Lei Jun highlighted the company's successful transition to carmaking.
- Apple invested 10 years and $10 billion in car development but abandoned the project.
- Xiaomi targets Apple users by enabling iPhone integration with its vehicles.
Why it matters
- Apple's failed car project contrasts with Xiaomi's swift adaptation to EV market.
- The growth of electric vehicles is a significant trend in IT and automotive industries up to 2025.
- Xiaomi's strategy may influence other tech companies considering diversification in the EV sector.
Xiaomi's successful foray into electric vehicles illustrates a sharp contrast to Apple's struggles, reflecting a significant trend in tech companies diversifying into the EV market as of 2025.