Xiaomi founder jabs Apple while celebrating record-breaking EV orders
Lei Jun, founder and chairman of Xiaomi Corp., couldn’t resist a jab at Apple as he unveiled the tech giant’s second electric vehicle, a sleek, long-anticipated SUV, during a launch event in Beijing late last month.
“Since Apple stopped developing its car, we’ve given special care to Apple users,” Lei said, noting that iPhone users could seamlessly sync their devices with Xiaomi vehicles.
The comment, a thinly veiled dig at Apple’s failed decade-long, $10 billion Project Titan, was followed by an impressive flex: more than 289,000 orders for the SUV were placed within an hour, surpassing demand for the SU7 sedan introduced in March 2024.
Xiaomi founder jabs Apple while celebrating record-breaking EV orders
Where Apple faltered, Xiaomi has soared, solidifying Lei’s legacy, boosting Xiaomi’s market value, and shaking up the tech and auto sectors. Apple’s abandoned pursuit of a fully autonomous vehicle underscored the missteps of moonshot ambitions. At the same time, Xiaomi’s grounded, pragmatic approach — blending Tesla- and Porsche-inspired designs with its signature affordability — has proved more effective.
China’s mature EV ecosystem gave Xiaomi an edge Apple never had: abundant subsidies, a robust charging infrastructure, and a ready supply chain.
Yale Zhang, managing director of consultancy Automotive Foresight, said Lei and Xiaomi’s charisma, brand recognition, and ecosystem cannot be underestimated. He continued to say that young consumers who are already loyal to Xiaomi naturally consider it when buying EVs.
Still, car manufacturing poses far greater challenges than smartphones or gadgets, from regulatory compliance to geopolitics. Xiaomi is charting new territory as one of the first tech giants to go full-scale into car production.
Unlike Apple’s high-concept, constantly shifting EV goals, Lei took a focused and frugal approach, calling carmaking his “last entrepreneurial project.” Xiaomi’s journey included tapping into China’s automaking talent pool, visiting companies like Geely and Great Wall, and poaching top talent from BAIC, BMW, and SAIC-GM-Wuling. Among the hires was Hu Zhengnan, formerly of Geely, credited as key to the SU7’s development.
Behind the scenes, Xiaomi pursued aggressive recruitment and built deep ties across the EV supply chain. It invested over $1.6 billion in over 100 component manufacturers between 2021 and 2024, from lidar to voltage converters, ensuring control and insulation from the supply chain disruptions that once plagued its smartphone business.
Xiaomi even constructed its own EV plant, bypassing the contract manufacturing route of peers like Nio and Xpeng. The decision reflects lessons from early Xiaomi, where strained supplier relationships — including a near-break with Samsung — forced Lei to negotiate over red wine to mend ties personally.
Can Xiaomi compete with Tesla and BYD?
Yet Xiaomi’s ascent hasn’t been without criticism. The SU7 has been dubbed the “Porsche Mi” for its familiar design, and SAIC’s vice president reportedly slammed Xiaomi’s approach as “shameless.” A fatal March accident involving the SU7 while its assisted-driving system was active led to government scrutiny and a rare period of silence from Lei.
Even so, the SU7 remains a top seller. Xiaomi’s loyal fanbase — known as “Mi Fans” — continues to drive sales. “A significant number of older buyers are purchasing the SU7 for their children,” said Rosalie Chen of Third Bridge, highlighting the model’s trust factor.
For 2025, Xiaomi has raised its delivery target to 350,000 vehicles, fueled by the SUV’s popularity and the newly introduced YU7. Starting at $30,100 for the SU7 and $35,000 for the SUV, Xiaomi’s vehicles are price-competitive with Tesla’s offerings. Its EV unit is projected to become profitable in the second half of 2025.
Yet the scale of Xiaomi’s operation is small when compared with giants such as BYD (with 4.3m EV and hybrid sales in 2023), Tesla (1.78m), or Toyota (10.8m in all markets globally). Having no offering in the mainstay sub-$20,000 market, which firms like BYD currently control, would see Xiaomi become a boutique brand for the rich, much like Tesla
Still, Lei is in an expansionist mood globally. He has recently said that Xiaomi could start overseas car sales as soon as 2027, from an R&D center in Munich with potential launches in Germany, Spain, and France, even as tariffs on Chinese EVs go up in the US, the EU, and Turkey.
Lei has acknowledged that Xiaomi is a late entrant to the auto business. But, he said, there is always potential for latecomers in a technology- and innovation-driven market.
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Xiaomi founder jabs Apple while celebrating record-breaking EV orders
Lei Jun, founder and chairman of Xiaomi Corp., couldn’t resist a jab at Apple as he unveiled the tech giant’s second electric vehicle, a sleek, long-anticipated SUV, during a launch event in Beijing late last month.
“Since Apple stopped developing its car, we’ve given special care to Apple users,” Lei said, noting that iPhone users could seamlessly sync their devices with Xiaomi vehicles.
The comment, a thinly veiled dig at Apple’s failed decade-long, $10 billion Project Titan, was followed by an impressive flex: more than 289,000 orders for the SUV were placed within an hour, surpassing demand for the SU7 sedan introduced in March 2024.
Xiaomi founder jabs Apple while celebrating record-breaking EV orders
Where Apple faltered, Xiaomi has soared, solidifying Lei’s legacy, boosting Xiaomi’s market value, and shaking up the tech and auto sectors. Apple’s abandoned pursuit of a fully autonomous vehicle underscored the missteps of moonshot ambitions. At the same time, Xiaomi’s grounded, pragmatic approach — blending Tesla- and Porsche-inspired designs with its signature affordability — has proved more effective.
China’s mature EV ecosystem gave Xiaomi an edge Apple never had: abundant subsidies, a robust charging infrastructure, and a ready supply chain.
Yale Zhang, managing director of consultancy Automotive Foresight, said Lei and Xiaomi’s charisma, brand recognition, and ecosystem cannot be underestimated. He continued to say that young consumers who are already loyal to Xiaomi naturally consider it when buying EVs.
Still, car manufacturing poses far greater challenges than smartphones or gadgets, from regulatory compliance to geopolitics. Xiaomi is charting new territory as one of the first tech giants to go full-scale into car production.
Unlike Apple’s high-concept, constantly shifting EV goals, Lei took a focused and frugal approach, calling carmaking his “last entrepreneurial project.” Xiaomi’s journey included tapping into China’s automaking talent pool, visiting companies like Geely and Great Wall, and poaching top talent from BAIC, BMW, and SAIC-GM-Wuling. Among the hires was Hu Zhengnan, formerly of Geely, credited as key to the SU7’s development.
Behind the scenes, Xiaomi pursued aggressive recruitment and built deep ties across the EV supply chain. It invested over $1.6 billion in over 100 component manufacturers between 2021 and 2024, from lidar to voltage converters, ensuring control and insulation from the supply chain disruptions that once plagued its smartphone business.
Xiaomi even constructed its own EV plant, bypassing the contract manufacturing route of peers like Nio and Xpeng. The decision reflects lessons from early Xiaomi, where strained supplier relationships — including a near-break with Samsung — forced Lei to negotiate over red wine to mend ties personally.
Can Xiaomi compete with Tesla and BYD?
Yet Xiaomi’s ascent hasn’t been without criticism. The SU7 has been dubbed the “Porsche Mi” for its familiar design, and SAIC’s vice president reportedly slammed Xiaomi’s approach as “shameless.” A fatal March accident involving the SU7 while its assisted-driving system was active led to government scrutiny and a rare period of silence from Lei.
Even so, the SU7 remains a top seller. Xiaomi’s loyal fanbase — known as “Mi Fans” — continues to drive sales. “A significant number of older buyers are purchasing the SU7 for their children,” said Rosalie Chen of Third Bridge, highlighting the model’s trust factor.
For 2025, Xiaomi has raised its delivery target to 350,000 vehicles, fueled by the SUV’s popularity and the newly introduced YU7. Starting at $30,100 for the SU7 and $35,000 for the SUV, Xiaomi’s vehicles are price-competitive with Tesla’s offerings. Its EV unit is projected to become profitable in the second half of 2025.
Yet the scale of Xiaomi’s operation is small when compared with giants such as BYD (with 4.3m EV and hybrid sales in 2023), Tesla (1.78m), or Toyota (10.8m in all markets globally). Having no offering in the mainstay sub-$20,000 market, which firms like BYD currently control, would see Xiaomi become a boutique brand for the rich, much like Tesla
Still, Lei is in an expansionist mood globally. He has recently said that Xiaomi could start overseas car sales as soon as 2027, from an R&D center in Munich with potential launches in Germany, Spain, and France, even as tariffs on Chinese EVs go up in the US, the EU, and Turkey.
Lei has acknowledged that Xiaomi is a late entrant to the auto business. But, he said, there is always potential for latecomers in a technology- and innovation-driven market.
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Read More