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Lei Jun: Xiaomi can only succeed if it becomes a top-five electric car giant

Today Xiaomi founder Lei Jun shared on the social platform talked about some of its views on the electric car industry, Lei Jun said that before Xiaomi entered the electric car industry, it conducted deep research on electric cars and gained some deep insights.

Lei Jun believes that the electric car is a kind of consumer electronics product with intelligence, software and user experience as its core. The nature of the automotive industry will evolve from machinery to consumer electronics, with market share highly concentrated in the top companies.

Lei believes that when the electric car industry enters maturity, the world’s top five brands will occupy more than 80 percent of the market, “In other words, the only way we can succeed is to be one of the top five and ship more than 10 million units per year. The competition will be brutal.”

Lei Jun said last month that Tesla had entered the electric car industry more than 10 years earlier than Xiaomi, and some people think Xiaomi has missed the time window to enter the electric car industry. Lei Jun does not agree with this, he thinks the game has just begun and believes that Xiaomi still has many opportunities.

At the end of last month, Lei Jun revealed in an internal speech that the first engineering car of Xiaomi car has officially rolled off the line. In August this year, Lei Jun announced that Xiaomi’s self-driving technology had entered the testing phase, and also released a live video of the self-driving technology road test, showing its self-driving technology algorithm and the ability to cover the whole scene. Lei Jun revealed that the first phase of the Xiaomi self-driving technology planning 140 test vehicles, will be tested in the country one after another, the goal is to enter the industry’s first camp in 2024.

The company’s first car will be launched in Beijing’s Economic and Technological Development Zone in 2024 and will be mass-produced.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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