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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Xiaomi's Bold EV Debut
- Xiaomi announced the YU7 SUV and logged 289,000 orders within the first hour of launch.
- Founder Lee Jun openly taunted Apple, claiming Xiaomi succeeded where Apple failed.
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.