Xiaomi EV is Coming Soon and Im Excited
Xiaomi entering the EV market.
I think Xiaomi is one of the most interesting companies in the world. Xiaomi has managed to develop a huge portfolio of products with the aim of selling them with low margins to gain as much market share as possible and then make most of their margins from software based services for these products.
Xiaomi has now announced that they are going to spend $10 billion USD over the next 10 years to manufacturing electric cars, embarking on its biggest-ever overhaul to enter China’s booming EV market.
Xiaomi didn’t specifically state whether they were going to develop the software for these EVs or develop the entire Car (much like Tesla).
I would assume they will go down the Tesla route to market and will develop an amazing EV.