Xiaomi CEO Lei Jun has been called China's Steve Jobs. Now he's got his eyes on the EV market in ways Apple could never pull off.
China’s so-called New Energy Vehicle market can be one of the most fickle places on the planet. To the untrained eye, it does not matter what kind of EV a car company makes; chances are that someone in China will buy it. However, as time marches on, we’ve learned that a vehicle’s existence alone does not make it a guaranteed success. Just ask companies like Honda, Ford, General Motors, or Hyundai, whose EV products have had middling to disappointing results in a market they once held tight.
Chinese social media was inundated with news of Jun’s rendezvous with other car-tech CEOs, like Nio or Great Wall Motors. Even Jun’s comments about the industry feel oddly positive and unusually gracious, like encouraging reservation holders of the SU7 that can’t wait, to buy competing models from XPeng, Chery, and Geely. Take how Jun said he is personally ordering a Li Auto L6, technically a competing company.
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