South Korean media: The success of Xiaomi's electric vehicles is also attributable to Samsung Electronics!

On August 6, the South Korean media "Business Post" published an article stating that analysts believe the success of Chinese Xiaomi in the electric vehicle business is inseparable from the contribution of Samsung Electronics.

Samsung Electronics once unilaterally stopped supplying smartphone components to Xiaomi, which led Xiaomi to embark on the path of establishing its own electric vehicle supply chain.

According to Bloomberg, Xiaomi made the decision to actively invest in its own electric vehicle supply chain based on its experience of cooperation with Samsung Electronics.

Samsung Electronics had previously clashed with Xiaomi in 2016, stopping the supply of smartphone AMOLED panels. At that time, Samsung Electronics held a monopolistic share of the AMOLED panel market globally.

Xiaomi invested early in the electric vehicle business to reduce these supplier variables.

Bloomberg analyzed that "Xiaomi showed foresight by investing in the electric vehicle supply chain based on the painful experience of unexpected component supply disruptions."

Xiaomi launched its first electric vehicle, SU7, in March last year, and officially introduced its second model, YU7, on June 26 this year. Recently, it raised its electric vehicle sales target for this year from 300,000 to 350,000 units.

Even before the launch of new models, Xiaomi had already invested in almost all aspects of the electric vehicle supply chain, including batteries, automotive semiconductors, sensors, etc., with some components already installed in its own electric vehicles.

Research companies estimate that Xiaomi's investment in the electric vehicle supply chain between 2021 and 2024 exceeded $1.6 billion.

Different from other Chinese electric vehicle companies such as NIO and XPeng, Xiaomi also built its own factories.

Bloomberg pointed out that Xiaomi's active recruitment of executives and employees from other car manufacturers such as BMW and Geely, and the construction of a parts supply chain, is one of the factors contributing to the success of its electric vehicle business.

Original: https://www.toutiao.com/article/1839672150079492/

Statement: This article represents the personal views of the author.