Xiaomi's Lei Jun on car-making: 'This is my last venture, I will be all in'

March 31, 2021 ideaTechX

Announcing the car build on Tuesday, Xiaomi’s CEO Lei Jun said, “This is the last major venture of my life. I am willing to bet my entire reputation in life to personally lead the team for Xiaomi cars.”


Xiaomi announced its entry into the smart electric car market on March 30 with an expected investment of $10 billion over 10 years, with an initial installment of RMB 10 billion ($1.52 billion).


Lei was just 40 years old when he entered the smartphone market; now he is 50 years old.


The past two and a half months have been an extremely difficult time as Xiaomi embraces yet another new metamorphosis, he said.


According to Lei, bringing hardware and software together is over 10 times harder than just doing software or hardware.


From programmer to the manager, from entrepreneur to investor, from the Internet to hardware, Lei said each change in his life required courage, will, learning ability, and tenacity to fight against pain.


With each new entry, past knowledge, experience, prestige, accolades, and connections were all cleared, and “it was only possible to rely on a go-getter’s heart,” he stated.


“I believe Xiaomi can enable every user to immerse themselves in the happiness brought by technology whenever and wherever they are and enable users to enjoy smart life with electric cars,” Lei stated.


Liu Qin, an early investor in Xiaomi, said he had discussed building a car with Lei many times and that “Lei is the same today as he was 10 years ago when he was all in cell phones.”


The ultimate power of entrepreneurship comes from the heart because everything has its gains and losses, and the final decision is made by the heart of the entrepreneur, leinews.com quoted an industry source as saying.


Xiaomi poaching talent for EV unit, once contacted a former NIO exec



Xiaomi's Lei Jun on car-making: 'This is my last venture, I will be all in'-CnEVPost


Xiaomi's Lei Jun on car-making: 'This is my last venture, I will be all in'-CnEVPost


(Photo: Lei Jun)

Xiaomi's car to launch in 3 years at the earliest, says founder

March 31, 2021 ideaTechX

Analysts expect Xiaomi cars to target price range below $30,525

March 31, 2021 ideaTechX

Chinese smartphone giant Xiaomi’s car will mainly target the sub-RMB 200,000 ($30,525) price band, analysts at Pingan Securities said on March 31.


The analysts, Wang Dean and Xu Yong, said that Xiaomi has a significant advantage in building cars and that it is expected to apply its success in the cell phone and smart home industries to building cars.


The analysts said Xiaomi has strong supply chain management and cost control capabilities and will launch a very cost-effective model.


In addition, Xiaomi has a certain brand influence and user base, strong user operation and management capabilities, and a sales model that integrates online and offline.


But technology media 36kr quoted sources close to both sides as saying that Lei Jun, CEO of Xiaomi, and William Li, founder of NIO, reached a consensus at the end of February to “pursue the brand upward”.


This means that Xiaomi’s car-making position is in line with that of cell phones, creating a high-quality and high-tech experience that makes it difficult to compete in the price range of less than RMB 150,000, according to 36kr.


Whether it’s traditional car companies transforming or emerging car-making forces including NIO, XPeng Motors, and Li Auto, all want to cut through the mid-to-high-end positioning, so Xiaomi is likely to do the same, the report said.


With a $10 billion investment over 10 years, Xiaomi is bound to invest heavily in R&D in hardware and software technology and will pursue a high degree of control in manufacturing, the report said, adding that “the target will obviously not be the low-price market.”


BREAKING: Xiaomi confirms launch of electric car business, to invest $10 billion over next decade



Analysts expect Xiaomi cars to target price range below $30,525-CnEVPost


Analysts expect Xiaomi cars to target price range below $30,525-CnEVPost

Chinese car makers cut production by 5% to 8% in Jan-Feb due to chip shortages

March 31, 2021 ideaTechX

Chinese vehicle manufacturers cut production by 5 to 8 percent in the first two months of the year due to chip shortages, a Chinese official said recently.


The contradiction between supply and demand of automotive chips should be examined from both short-term and long-term perspectives, said Li Shaohua, deputy secretary-general of the China Association of Automobile Manufacturers, at a recent salon held by stcn.com.


In the short term, the shortage of automotive chips is a problem of imbalance between supply and demand in the market, which cannot be solved through administrative means, Li said.


In the medium to long term, it is a problem of China’s auto industry chain relying on overseas, and the industry must pay great attention to accelerate the realization of China’s auto industry chain as autonomous and controllable, Li said.


Li said the chip shortage has become a global problem. Not only the automotive industry but also consumer electronics, communication systems, and medical instruments are facing chip shortages. This imbalance between supply and demand has caused a significant increase in the price of various types of chips.


In the next six months or even nine months, the automotive chip supply and demand mismatch and imbalance problem will persist, and is expected to enter a new supply and demand balance phase-only around the third quarter of this year, he said.


“Auto companies are all currently working to adjust production plans for chip shortage models to ensure that auto production is not affected or is less affected.” Li expects that auto production and sales will be boosted in the second half of this year as the chip shortage is eased.


Li said the problems facing China’s automotive chip products include the lack of a standards system and verification means, the lack of core component companies, and the high technical threshold for vehicle-grade chips.


In his view, automotive chip projects take at least a decade from formation to profitability, which requires sufficient time for government policy support to ensure the sustainability of the project and industry development.


Chip shortage has led to 1.157 million vehicle production cuts worldwide



Chinese car makers cut production by 5% to 8% in Jan-Feb due to chip shortages-CnEVPost


Chinese car makers cut production by 5% to 8% in Jan-Feb due to chip shortages-CnEVPost

NIO registers trademark for new model called EF9

March 31, 2021 ideaTechX

Huawei says it has built over 30 smart car parts

March 31, 2021 ideaTechX

XPeng CEO welcomes Xiaomi as a peer

March 31, 2021 ideaTechX

Huawei's 2020 sales revenue up 3.8% year-on-year to RMB 891.4 billion

March 31, 2021 ideaTechX

Huawei’s 2020 sales revenue rose 3.8 percent year-on-year to RMB 891.4 billion ($136 billion) and net profit rose 3.2 percent year-on-year to RMB 64.6 billion, according to figures released by the company today.


Huawei said the growth rate of the results, although slowing down, basically achieved expectations.


Huawei’s consumer business reported revenue of 482.9 billion yuan in FY2020, up 3.3% year-on-year.


Revenue from Asia Pacific ex-China declined 8.7% to RMB 64.4 billion in 2020.


Huawei’s cash flow from operating activities in 2020 was down 61.5% to RMB 35.2 billion.


“This year, we defied the odds and remained committed to continuing to create value for our customers with innovative ICT technologies,” said Hu Houkun, Huawei’s rotating chairman.


“We will continue to work openly with our customers and partners to drive sustainable social, economic, and environmental development,” he said.


In 2020, Huawei has joined hands with operators to launch more than 3,000 innovative 5G project practices in more than 20 industries, including coal mining, steel, ports, and manufacturing, the company said.


KPMG, the accounting firm, issued an independent audit opinion on the financial report for the annual report, Huawei said.


Huawei plans to spend $220 million to support developers this year



Huawei's 2020 sales revenue up 3.8% year-on-year to RMB 891.4 billion-CnTechPost


Huawei's 2020 sales revenue up 3.8% year-on-year to RMB 891.4 billion-CnTechPost


(Hu Houkun, Huawei’s rotating chairman.)

NIO learned from Xiaomi in its early days, and now the student has become the teacher

March 31, 2021 ideaTechX

Chinese electric carmaker NIO learned community operation experience from Xiaomi at the beginning of its establishment. After smartphone maker Xiaomi decided to enter the car-making space, NIO has become its teacher in this area instead.


In December of last year, Xiaomi began studying the model of Chinese electric car startups, and Tencent News quoted a Xiaomi executive source as saying that Lei Jun, the founder of Xiaomi, told an executive, “You guys go study NIO.”


The team then began to study NIO in-depth, not only downloading the NIO App to study its operations but also calling others to ask about the highlights of NIO’s business model, the report said.


In particular, the Xiaomi team did an in-depth study on the construction of NIO’s user system, according to the report.


Lei Jun had previously invested in NIO and introduced Xiaomi co-founder Li Wanqiang to NIO founder William Li, sharing Xiaomi’s experience in community operations.


Now, NIO has become a benchmark for Chinese car companies’ community operations, studied and imitated by many peers, and now Xiaomi has started to learn from NIO in turn.


NIO had asked Xiaomi for help when it faced a capital chain crisis at the end of 2019, but the two sides did not come to terms after assessing the risks, a decision that Xiaomi CEO Lei Jun regrets.


Xiaomi asked an executive who left NIO for R&D-related advice in February and asked him to recommend talent to join Xiaomi, a report by Tencent News said.


Lei and NIO CEO William Li agreed in late February to “pursue upward branding,” 36kr said, citing sources close to both parties, meaning Xiaomi is building high-quality, high-tech products rather than value-for-money ones.


Xiaomi poaching talent for EV unit, once contacted a former NIO exec



NIO learned from Xiaomi in its early days, and now the student has become the teacher-CnEVPost


NIO learned from Xiaomi in its early days, and now the student has become the teacher-CnEVPost

Xiaomi invests $1.5 billion in fully owned EV business

March 31, 2021 ideaTechX

Chinese tech giant Xiaomi is throwing its hat into the red-hot electric vehicle market with a RMB 10 billion ($1.52 billion) investment to set up a fully owned subsidiary for its auto business, to be led by chief executive Lei Jun.


Founder and CEO Lei at a press event in Beijing on Tuesday said Xiaomi had decided to strike out on its own on EVs in an effort to operate an ecosystem that will provide seamless user experience, and will not consider outside funding. Lei said he was aware of the complexities of making cars with extreme capital intensity, saying that the company is now ready to pour money into the project and face losses over a long-term period.


“We look forward to the day when Xiaomi cars will run on roads across the globe… This would be the last startup project in my career and I shall stake all I have to work this out,” the 52-year-old serial entrepreneur said (our translation). In an announcement published Tuesday, Xiaomi said the company plans to invest a total of $10 billion in the project over the next 10 years.


Following in Apple’s footsteps, Xiaomi has pledged to develop high-quality EVs with a “best-in-class” connected device ecosystem for global customers, according to Lei. The world’s fourth-biggest smartphone maker recorded shipments of nearly 150 million units in 2020 with an annual growth rate of 19%. Sales for competitors Samsung and Huawei shrank a respective 14% and 22%, according to figures from Canalys.


Xiaomi also boasted of having one of the world’s biggest Internet-of-Things (IoT) platforms, connecting 325 million smart home appliances as of last year, excluding handsets and laptops. It has also remained the top-selling television set maker in China since 2019, accounting for around 20% of market share, according to data compiled by Beijing-based consultancy All View Cloud (AVC).


However, the Chinese consumer electronics giant is seeking new sources of growth amid a slowing market. Its IoT and consumer products segment slowed sharply to 8.6% annually last year from 41.7% in 2019. The company also missed analyst revenue estimates for the fourth quarter, according to Bloomberg.


In the meantime, the global automotive industry is undergoing a landmark transition, and the shift to battery-electric, self-driving cars from traditional, internal-combustion vehicles has reached a major inflection point. China is expected to maintain its global leadership in EV production and adoption. IHS Markit forecasted that China will regain growth momentum at double-digit rates in 2021 and beyond, as the government continues to push the EV industry forward and consumer demand recovers.


Xiaomi has long been rumored to be plotting a move into the booming, crowded EV market. Last week it denied a Reuters report that it was in discussions with Chinese automaker Great Wall Motors for contract manufacturing. Shunwei Capital, a venture capital firm formed by Lei, invested in Nio in its Series A back in 2015 and became an early investor in Xpeng Motors two years later.


Baidu is also accelerating the push into the market. In January it set up a joint venture with automaker Geely. The Chinese search company has set a goal to launch its first own-brand EV within three years, chief executive Robin Li said during an earnings call last month.

WM Motor's first 100 W6 models begin shipping from factory to dealer network

March 30, 2021 ideaTechX

Chinese electric vehicle startup WM Motor‘s first 100 WM W6 units were shipped from its factory in Hubei on March 27 and will soon be delivered to the company’s dealer network in cities across China.


The WM W6 is the first production model in China to support self-driving and the first vehicle in China to feature CloudAVP (Cloud Automated Valet Parking).


The first batch of WM W6 will be shipped as show cars to stores in cities including Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Wuhan, Chongqing, Hangzhou, and Chengdu. Customers will be able to experience the model’s smart technology in-store.


WM W6 is equipped with a 7nm automotive-grade Qualcomm 8155 chip, 5G baseband, five 77GHz millimeter-wave radars, seven cameras, and 12 ultrasonic radars.


As an automated parking system developed in cooperation with Baidu, CloudAVP is applied in two scenarios: one is a parking lot with fixed parking spaces such as home or company, which is called HAVP; the other is a commercial parking lot like a shopping mall or office building, which is called PAVP.


In the HAVP scenario, the vehicle only needs to complete the route learning once. After that, the user can get out of the car in advance and the vehicle will automatically park into space.


In the PAVP scenario, after the user gets out of the car, the vehicle will find a parking space and park itself.


In both scenarios, the user can summon the vehicle unmanned to the user’s location via cell phone when picking up the vehicle.


WM W6 launched its pre-sale on March 1, and will be launched and start delivery at the Shanghai Auto Show in April.


WM Motor’s model with 5G connectivity starts accepting pre-orders



WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost


WM Motor's first 100 W6 models begin shipping from factory to dealer network-CnEVPost

Xiaomi reportedly plans to spend $15 billion on electric cars

March 30, 2021 ideaTechX

Chinese smartphone giant Xiaomi plans to invest about 100 billion yuan ($15 billion) over the next three years to produce electric cars, Bloomberg said Tuesday, citing people familiar with the matter.


Xiaomi will invest about 60 percent of the amount envisioned and plans to finance the rest, the person familiar with the matter said.


Xiaomi has less than 100 billion yuan in cash and cash equivalents as of the end of 2020.


Xiaomi will outsource car assembly to contract manufacturers, the same model used for its smartphones, the person familiar with the matter said.


Xiaomi is fast-tracking the car-making matter, with projects expected to be set up as soon as 1-2 months, 36kr.com learned earlier this month from sources close to the company’s founder Lei Jun, including investors and car company executives.


Xiaomi’s initial discussions on brand positioning are similar to XPeng Motors, focusing on the mid- to high-end market with strong technology attributes, the 36kr report said.


In late February, Lei had an appointment with NIO Motors founder Li Bin to consult on a car build, the report said.


The immediate person in charge of the plan is Wang Chuan, co-founder, and chief strategy officer of Xiaomi, who was at the helm of Xiaomi TV, considered to be one of Xiaomi’s most successful businesses outside of cell phones, according to the report.


Other industry sources close to Lei said that “as soon as this month or next month, a Xiaomi car build could be set up.”


“It’s almost an internal consensus that the head of Xiaomi’s car build is Wang.” 36kr.com quoted the source as saying.


A car company executive also said, “Wang visited Li Auto often in the last year, and if the No. 1 person in charge of Xiaomi’s car build is Lei, the No. 2 person in charge is Wang.”


Wang joined Xiaomi in 2012 and has been in charge of TV department, staff department, China region, and large appliances department, and has participated in the whole chain of product development, production, channels, and sales.


Wang has been Lei’s business partner and close friend for many years, and according to media reports, Lei once told Wang: I support whatever you do.


Wang is studying the automotive industry on behalf of the Xiaomi Group, seeking various resources such as talent, technology and factory manufacturing, the report said.


On the talent side, Wang is already in contact with some quality executives in the auto industry, seeking CEO candidates for auto companies.


But the source also revealed that the plan has not yet been finalized and does not rule out ending up with one of Xiaomi’s own executives as CEO.


Xiaomi’s car-making project said to be launched in April at earliest, with positioning similar to XPeng



Xiaomi reportedly plans to spend $15 billion on electric cars-CnEVPost


Xiaomi reportedly plans to spend $15 billion on electric cars-CnEVPost

Xiaomi launches new logo

March 30, 2021 ideaTechX

Xiaomi launches new logo-CnTechPost


Xiaomi launches new logo-CnTechPost


On the second day of Xiaomi’s spring launch, Lei Jun, the founder, chairman, and CEO of the Chinese smartphone giant, announced that the company has officially launched a new logo.


Xiaomi launches new logo-CnTechPost


Xiaomi launches new logo-CnTechPost


The new logo is based on a new design concept called “Alive” by Japanese graphic designer Kenya Hara, which incorporates Eastern philosophical thinking into Xiaomi’s brand vision.


Xiaomi launches new logo-CnTechPost


Xiaomi launches new logo-CnTechPost


Xiaomi launches new logo-CnTechPost


Xiaomi launches new logo-CnTechPost


Lei said that under the “Alive” design concept, the new Xiaomi logo, with its “super elliptical” mathematical beauty, is no longer limited to one corner of the screen, but seems to have taken on a life of its own.


Xiaomi launches new logo-CnTechPost


Xiaomi launches new logo-CnTechPost


(Left: new logo; Right: old logo.)


Founded in March 2010, Xiaomi is a global mobile Internet company focusing on the research and development of smart hardware and electronic products, as well as a technology company focusing on high-end smartphones, Internet TVs, and smart home ecological chain construction.


On July 9, 2018, Xiaomi was listed in Hong Kong. At that time, Xiaomi’s IPO price was set at HK$17 per share, raising a net HK$23.975 billion.


Earlier today, Xiaomi confirmed the launch of its electric vehicle business, joining this thriving market.


Xiaomi‘s board of directors formally approved the creation of a smart electric vehicle business, the smartphone giant said in an announcement on the Hong Kong Stock Exchange today, adding that it plans to set up a wholly-owned subsidiary to handle the smart electric vehicle business.


The subsidiary will have an initial investment of 10 billion yuan ($1.5 billion) and is expected to invest $10 billion over the next 10 years.


Lei Jun, chief executive officer of Xiaomi Group, will also serve as chief executive officer of the smart electric vehicle business.


Xiaomi hopes to enable global users to enjoy a ubiquitous smart life with high-quality electric vehicles, the company’s announcement said.



BREAKING: Xiaomi confirms launch of electric car business, to invest $10 billion over next decade


Chinese energy official says EVs could become energy storage for power system

March 30, 2021 ideaTechX

Electric vehicles could become energy storage devices for the power system, and China needs to speed up infrastructure for charging and battery swap, a Chinese energy official said on Tuesday.


At a March 30 briefing on China’s renewable energy development, Huang Xuenong, director of the Electric Power Department of the National Energy Administration, said China should vigorously improve the power system’s flexibility.


China should accelerate the development of energy storage on a large scale, promote the digitalization of the power system and build efficient and intelligent dispatching and operation system, Huang said.


It may seem simple for the power system to supply electricity to electric vehicles, but if the development of technology and economic measures are utilized, electric vehicles can fully contribute to the power system capacity enhancement, he said.


In the trough of electricity usage, the power system can charge it; in the peak of electricity usage, the electric vehicle can be allowed to discharge the power system, he mentioned.


An electric car may become an energy storage device for the power system, and if thousands of electric cars are used in this way, then it will be very beneficial to the power system, he said.


Accelerating the construction of charging and battery swap infrastructure can promote both the development of new energy vehicles and the construction of a new electric power system, according to Huang.


Zhang Jianhua, director of the National Energy Administration, said China’s renewable energy development and utilization scale is the world’s largest.


By the end of 2020, China’s total installed renewable energy power generation capacity reached 930 million kilowatts, accounting for 42.4 percent of the total installed capacity, up 14.6 percentage points from 2012.


In 2020, China’s renewable energy power generation reached 2.2 trillion kilowatt-hours, accounting for 29.5% of the total electricity consumption, an increase of 9.5 percentage points compared with 2012.


By 2025, China’s renewable energy will account for about two-thirds of the total incremental electricity consumption, and more than 50% of the total incremental primary energy consumption.


Renewable energy will change from being an incremental supplement to the original energy and electricity consumption to being the mainstay of incremental energy and electricity consumption, Zhang said.


Sinopec says it aims to be carbon neutral 10 years ahead of nation’s commitment



Chinese energy official says EVs could become energy storage for power system-CnEVPost


Chinese energy official says EVs could become energy storage for power system-CnEVPost

Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520

March 30, 2021 ideaTechX

Chinese smartphone giant Xiaomi unveiled its first foldable full-screen phone, the Mi MIX Fold, on March 30, priced from RMB 9,999 ($1,521) to RMB 12,999.


The Mi MIX Fold’s inner screen features TCL’s 8.01-inch 2480 x 1860 flexible screen with DCI-P3 color gamut, 600nit brightness, HDR10+, and Dolby Vision support, and claims to be bendable 200,000 times.


The outer screen is another 6.52-inch AMOLED screen with a resolution of 2,520×840 and a refresh rate of 90Hz.


The device is equipped with stereo quad speakers tuned in collaboration with Harman Kardon, which intelligently switches between left and right channels depending on the grip direction.


The Mi MIX Fold comes with a special version of MIUI, with three expected modes and new features including one-touch incognito, parallel windows, dual-screen drag and drop, and multi-image sending.


The rear camera features a 108MP primary camera from Samsung hm2, a 13MP ultra-wide-angle lens, an 8MP equivalent 80mm telephoto macro lens, and Xiaomi’s first liquid lens.


The device is equipped with a 5020mAh battery, 67W fast charging, Qualcomm Snapdragon 888 chip with LPDDR5 and UFS 3.1, butterfly cooling, and “micro airbag” cooling technology.


Mi MIX Fold features Surge C1, the first professional imaging chip dedicated to image processing.


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost


Xiaomi unveils its first foldable phone, MIX FOLD, starting at around $1,520-CnTechPost