Xiaomi

Xiaomi faces increased scrutiny after entering the automotive market, amplified by rapid growth and social media’s influence. CEO Lei Jun emphasizes meticulous communication and staying true to core values to navigate the “attention economy.” He stresses the importance of careful public statements and adapting to industry expectations despite being a newcomer.

Rumors circulated online about “Feng,” a former Xiaomi executive, leading to speculation about demanding contracts. Xiaomi responded, clarifying that “Feng” was employed for two months in 2016 as a cafeteria worker, responsible for chopping vegetables, not an executive. He was terminated for absenteeism. The official statement debunked the rumors, generating amusement and surprise among social media users.

Xiaomi’s YU7 electric vehicle achieved record-breaking pre-orders, triggering heated debate. A competitor’s executive criticized the overwhelming demand, predicting long delivery delays and questioning the marketing tactics. The now-deleted criticism backfired, sparking backlash and calls for a boycott. This incident highlights the fierce competition in the EV market and underscores the challenges legacy automakers face against aggressive newcomers.

Xiaomi launched its first SUV, the YU7, along with AI-powered glasses, smartphones, and home appliances. CEO Lei Jun discussed media scrutiny, emphasizing the importance of capability over marketing and highlighting strengths in R&D, quality, and design. The new SUV saw rapid pre-orders, exceeding 200,000 within minutes. Lei Jun also addressed Xiaomi’s strategy in the competitive automotive market, emphasizing the need for a serious approach and excellent standards.

Xiaomi’s YU7 vehicle launch saw phenomenal success, with pre-orders reaching 289,000 units within an hour, mirroring its smartphone sales strategy. Following the launch, Xiaomi’s stock price surged over 5%, hitting a record high of HK$61.45, reflecting a significant recovery from earlier setbacks. This explosive debut highlights Xiaomi’s resilience and its growing presence in the automotive market.

Xiaomi, under Lei Jun, accepted Tesla’s challenge to compare its YU7 with the refreshed Model Y. Acknowledging the Model Y’s market dominance, Lei Jun embraced the competition, emphasizing Xiaomi’s competitive spirit. This comes after Tesla’s recent Model Y upgrades, including aesthetic and comfort enhancements.

Xiaomi launched a slew of new products at its ecosystem event, with the MIX Flip 2 foldable phone being the highlight. President Lu Weibing aimed to redefine industry standards with its minimized crease, achieved through a new hinge design and a resilient 6.86-inch flexible glass screen. He also subtly criticized competitor models, highlighting superior features found in other Xiaomi products.

Xiaomi is preparing for a major expansion, with its upcoming YU7 SUV set to be a primary focus. The new vehicle is anticipated to launch soon, assembling at an existing factory and the forthcoming second phase of its manufacturing base. Internal sources report increased activity, and suppliers are working extra hours. Despite potential concerns, CEO Lei Jun expects both the YU7 and SU7 sedan to thrive, with early price speculation circling $25,000. Exhibition model deliveries are already underway.

Xiaomi CEO Lei Jun expects the SU7 sedan to remain a top seller even after the YU7 SUV launch. Jun downplays price speculation for the YU7, highlighting its advanced features like long range, LiDAR, NVIDIA’s Thor chip, and “sky screen,” suggesting its value will justify the cost. He anticipates distinct consumer appeal for both models, expressing confidence in the SU7’s continued success.

Xiaomi will hold a “mega-event” on June 26th, showcasing new products like the YU7 SUV, MIX Flip2 foldable phone, and Pad 7S Pro tablet. The event, lasting approximately three hours, will also unveil REDMI K80 Supreme Edition and K Pad pricing. The YU7 aims to be a high-performance luxury SUV, challenging Tesla’s Model Y in the market, as emphasized by Xiaomi’s founder.