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8 hours ago
In the last few years, we are definitely witnessing a transition in the automobile industry. Upon reflection, this reminds me of the Swiss mechanical vs Japanese quartz watch wars. It will take decades for things to settle down to an equilibrium where brand bifurcation happens. There will be new business models and new competitive moats that appear. But it will probably get really painful for some of the car brands who had enjoyed a premium for their loud/efficient/powerful engine technologies.
Commentary: Xiaomi made a cheap Ferrari EV. Who needs luxury carmakers?
BERLIN: Watching the launch last week of Xiaomi’s luxury electric sport utility vehicle, the YU7, stirred up two strong emotions: wonder at its impressive technology, and deep foreboding for the future of Western automakers.
The YU7 is the complete package – a stylish and tech-laden SUV with up to 835km of driving range, all for an affordable price. The entry-level version costs just 253,500 yuan (US$35,400).
Xiaomi scores few points for design originality – the YU7 looks like a cross between a Ferrari Purosangue and a McLaren, while its first model, the sporty SU7 sedan, bears a striking resemblance to the Porsche Taycan. Even so, these are astonishing achievements for a smartphone company that entered the automotive industry just four years ago. I was not in the least surprised the YU7 received almost 300,000 orders within one hour.
https://www.channelnewsasia.com/commenta...ar-5213741
Commentary: Xiaomi made a cheap Ferrari EV. Who needs luxury carmakers?
BERLIN: Watching the launch last week of Xiaomi’s luxury electric sport utility vehicle, the YU7, stirred up two strong emotions: wonder at its impressive technology, and deep foreboding for the future of Western automakers.
The YU7 is the complete package – a stylish and tech-laden SUV with up to 835km of driving range, all for an affordable price. The entry-level version costs just 253,500 yuan (US$35,400).
Xiaomi scores few points for design originality – the YU7 looks like a cross between a Ferrari Purosangue and a McLaren, while its first model, the sporty SU7 sedan, bears a striking resemblance to the Porsche Taycan. Even so, these are astonishing achievements for a smartphone company that entered the automotive industry just four years ago. I was not in the least surprised the YU7 received almost 300,000 orders within one hour.
https://www.channelnewsasia.com/commenta...ar-5213741