The Daily Brief From smartphones to steering wheels : Xiaomi
11 snips
Aug 21, 2025 Xiaomi's ambitious dive into electric vehicles is highlighted, showcasing their adaptive strategies amid fierce competition, especially when compared to Apple's struggles. The discussion then shifts to the pressing issue of zombie firms in India, emphasizing the need for reform in bankruptcy laws. The complexities surrounding business exits in the Indian market reveal the potential pathway to revitalizing the stagnant manufacturing sector. This episode serves up insights into both innovation and economic challenges.
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Project Titan's Slow Burn
- Apple ran Project Titan for a decade, spending over $10 billion without selling a car.
- Internal conflict, shifting goals, and partner friction led Apple to wind down the project by early 2024.
Execution Beats Perfection
- Xiaomi leveraged existing electronics know-how and supplier relationships to pivot into EVs quickly.
- The firm's focus on execution over reinvention let it prioritize selling Xiaomi-branded cars fast.
Licensing Workaround With Partners
- Xiaomi used manufacturing partners like Bike to bypass licensing delays and begin deliveries in 2024.
- Regulators later granted Xiaomi its own EV license in mid-2024, speeding its expansion.