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With pedal to the metal, Xiaomi zooms into China’s EV race

Speaking at a launch event for its first electric vehicle, the smartphone maker’s CEO Lei Jun declared his ambition to become one of the world's top five automakers in 15 to 20 years

This article only represents the author's own views.

Xiaomi Corp.’s (1810.HK) brief life story is closely intertwined with its charismatic founder and CEO Lei Jun, who was a telecoms layman when he launched the company that would go on to become one of China’s and the world’s biggest smartphone makers. But can he pull it off again with new energy vehicles (NEV)?

Lei certainly thinks so, and is pumping huge resources into the space as part of his bigger vision of building a Xiaomi ecosystem of smart devices that can communicate with each other and their owners in a future world often called the internet of things (IoT).

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