Xiaomi EV
Today we are covering a company that built its name on viral smart phones and a "magic touch" for creating every kind of smart home appliance imaginable. We're, of course, talking about Xiaomi.This company, which started far from the automotive world, has just launched its first two EV models, and the result is stunning. The SU7 sedan and the YU7 SUV have become one of the most wanted and pre-ordered EVs in China. It also made the fastest EV sports car in history so far.This is Xiaomi EV.[NEW] Follow us on Substack! https://ascentpodcast.substack.com/00:00:59 Intro00:02:47 The “Tony Stark” of China: the story of Lei Jun00:10:41 Building an empire: the Kingsoft years and the founding of Xiaomi00:25:18 More than phones: a breakdown of Xiaomi's business lines00:34:17 Blacklist, boardrooms, and a big decision: how a crisis led to the EV venture00:45:09 The EV hunger game: navigating a “game of elimination"00:57:17 The SU7: a masterclass in smart EV manufacturing01:17:15 The "Halo effect" of Ultra: how racing puts Xiaomi on the map01:33:17 The numbers game: sales, market share, and industry trends01:39:54 Demand outruns the factory: the production challenge01:45:15 The fastest to profit: Xiaomi's future and global ambitions