Judul : Xiaomi's Success in Diversifying into Electric Vehicles, Beating Apple
link : Xiaomi's Success in Diversifying into Electric Vehicles, Beating Apple
Xiaomi's Success in Diversifying into Electric Vehicles, Beating Apple
Best for you , JAKARTA — Lei Jun, founder and chairman Xiaomi Corp., can't hide his pride when Xiaomi officially launched Electric vehicle Both a month ago.
The launch is an important milestone marking Xiaomi's success in diversifying its business into the automotive sector, a achievement that even Apple Inc. has failed to attain.
Lei Jun's pride is not without reason. Xiaomi is now recorded as the only technology company that has successfully entered the electric vehicle industry. Apple, despite having invested a huge sum of US$10 billion over the past decade, finally decided to abandon its ambition of building a car on its own.
"Since Apple "Stopping the development of its cars, we are giving special attention to Apple users," said Lei, emphasizing that iPhone owners can still smoothly synchronize their devices with Xiaomi cars.
That subtle criticism was soon followed by a display of strength. Xiaomi announced that it had received more than 289,000 orders for its new SUV within one hour after the launch. This number exceeded the pre-orders for their first electric sedan released in March 2024.
Xiaomi's success in the field left behind by Apple has strengthened Lei Jun's reputation, making his company one of the entities with the highest valuation in China. This achievement has also shaken the technology and automotive industry landscape simultaneously.
The collapse of Apple's ambitious project marks the advantage of Xiaomi's more down-to-earth approach. They have adopted designs from Tesla Inc. and Porsche Automobil Holding SE, yet remained faithful to the principle of affordability that has made them a beloved brand among Generation Z.
Xiaomi also benefits from the product launch in China, the country with the most advanced electric vehicle ecosystem in the world. Quoting Bloomberg , Xiaomi has structural advantages that Apple does not have, as it has obtained subsidies, established charging infrastructure, as well as ready-to-use supply chains. However, Xiaomi has refused to make an official comment on this.
Regardless of that, Lei's charisma and Xiaomi's ecosystem strength cannot be overlooked.
"Karisma, brand awareness, and Xiaomi's ecosystem have a significant impact on young consumers who have already filled their homes with Xiaomi products. When it's time to buy an electric vehicle, they naturally consider Xiaomi," said Yale Zhang, Director of Automotive Foresight based in Shanghai.
Automobile manufacturing presents far more complex and capital-intensive challenges compared to mobile phones or home appliances. To reach this point, Xiaomi must master safety regulations, global logistics, and large-scale production, while competing with established automotive manufacturers that have extensive product lines and decades of experience.
International expansion also requires the ability to navigate a complex geopolitical landscape. As one of the first major technology giants to truly produce cars, Xiaomi is now entering an area that has not been widely mapped.
Production Needs and Global Expansion Plans
Xiaomi's automotive business diversification does not stop at the launch of new electric vehicles. The company has raised its delivery target for electric vehicles to 350,000 units in 2025, up from 300,000 units previously.
The target increase is driven by high demand for the new YU7 model and increased production capacity. The initial price of the SU7 sedan is 215,900 yuan (about US$30,100), and the SUV is priced at 253,500 yuan, making both competitive alternatives to the Tesla Model 3 and Model Y.
Electric vehicle Xiaomi has also begun to show promising financial prospects. The company recorded its highest-ever first-quarter revenue, driven by car and phone sales. The electric vehicle division is expected to start making profits in the second half of 2025, said Lei Jun during a meeting with investors in June.
Although the popularity of Xiaomi electric vehicles has the potential to exceed its loyal fan base, its production scale is still relatively small compared to other automotive companies.
BYD Co., the largest car brand in China, sold about 4.3 million EV and hybrid vehicles last year. Tesla sold about 1.78 million vehicles globally, while Toyota Motor Corp., the world's largest car manufacturer, sold about 10.8 million units with a portfolio of around 70 different models.
According to Zhang from Automotive Foresight, Lei seems not yet to have prioritized the mass market with selling prices below US$20,000. This price segment is driving large sales volumes, which are currently dominated by BYD.
Zhang believes that Xiaomi's cars risk stagnation like Tesla. The company founded by Elon Musk is facing a sales decline due to a limited customer base and a narrow model portfolio.
Without a product line in that price range, Xiaomi is now only an option niche For upper-middle-class consumers.
Nevertheless, Lei seems driven by Xiaomi's initial achievements and has started looking at global expansion. He stated last week that Xiaomi will consider starting to sell cars outside China from 2027.
Regardless of these prospects, the automotive market is no longer the same. The European Union, the United States, and Turkey have imposed import tariffs on electric vehicles from China. However, according to a report by Chinese media 36Kr In April, Xiaomi remained determined to build an R&D center in Munich and was considering market testing in Germany, Spain, and France at the appropriate time.
"Xiaomi indeed arrived late to the automotive industry. However, in a technology-driven market, with innovation and the increasing global influence of Chinese electric vehicle culture, 'there is always an opportunity for those who come later,' " Lei said in June.
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