The first post in the series introduced the old view of a car (vehicle) vs. the new view. EkaLore suggests that holding on to the old mental model can cause people and companies to miss opportunities and be blindsided by entrants. Xiaomi is just such an entrant. Widely known as a mobile phone manufacturer in the rest of the world, it’s investing heavily in developing EV technology.
In March 2021, Xiaomi announced it would enter the consumer passenger electric vehicle (EV) market space. Xiaomi planned to spend USD$10B over ten years to enter the EV market space.
"Xiaomi hopes to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere."
In August 2021, Xiaomi purchased ADAS enterprise Deepmotion for USD$77M. In October 2021, it announced working towards a 1H2024 marketplace EV introduction. In context, Huawei, pursuing much the same Alien Invader path, spent more than USD$1B in 2021.
In August 2022, Xiaomi disclosed that more than 140 prototypes were running ADAS software under test conditions in China. From Twitter,
"The company's autonomous driving technology adopts a self-developed approach, and the project has made progress beyond expectations."
To be continued.
Find the first post in the series here. If you want to read other stories about Alien Invaders you can find them at www.ekalore.com/alien-invaders
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