A Xiaomi YU7 car drives past the entrance to the Xiaomi EV Factory, where all Xiaomi EV cars are made, in Beijing. Xiaomi succeeding where Apple failed has burnished Lei’s reputation, made his company one of the most valuable in China and shaken up both the tech and automobile industries. — AFP
Lei Jun, founder and chairman of Xiaomi Corp, the only tech company to have successfully diversified into carmaking, couldn’t resist.
Speaking at a triumphant launch event in Beijing late last month for Xiaomi’s second electric vehicle, a long-anticipated SUV, Lei pointedly mentioned Apple Inc, which spent a decade and US$10bil (RM42.36bil) trying to make a car before giving up last year.
