South Korean media: Why did Xiaomi succeed where Apple failed in the electric vehicle market? Two key factors!
On September 2, the South Korean media outlet "Etoday" published an article stating that Chinese company Xiaomi has achieved success in the electric vehicle market after succeeding in the smartphone market, drawing much attention. Xiaomi has successfully launched two electric vehicles, while smartphone giant Apple invested billions of dollars in the electric vehicle market but failed. The British economic weekly "The Economist" analyzed the reasons.
Xiaomi launched its first sedan-type electric vehicle "SU7" in March last year, and recently introduced the SUV model "YU7". Among them, YU7 is very popular, with a delivery period of more than one year after booking.
Some analysts say that Xiaomi's success is largely due to the leadership of Xiaomi Chairman Lei Jun and its fan marketing strategy.
Chairman Lei Jun initiated the electric vehicle project and reorganized the company structure. Apple chose to outsource production like smartphones instead of directly investing in electric vehicle development, whereas Chairman Lei Jun conducted business by directly producing products for Xiaomi.
"The Economist" analyzed that the main reason for Xiaomi's success in the electric vehicle business where Apple failed is "unlike Apple CEO Tim Cook, Chairman Lei Jun personally participated in projects such as quality control, thus achieving success."
The use of fan marketing strategies has also been effective. Chairman Lei Jun is also known for a management style similar to the late Apple co-founder Steve Jobs, including his speeches, speaking style, and his habit of wearing jeans and black T-shirts in his early days.
In this way, he is called "the Steve Jobs of China" locally, successfully accumulating a loyal group of "Mi fans", which is similar to how Apple dominated the smartphone market through Jobs' management innovation and personal fame.
According to "The Economist", Xiaomi's loyal customer base was formed about 10 years ago, mainly concentrated in the age range of teenagers to twenties. Today, 10 years later, these customers are in their thirties and have the ability to buy cars, so when purchasing expensive cars, they will choose Xiaomi besides smartphones, TVs, and vacuum cleaners.
"The Economist" analyzed that "electric vehicles are a business that won't fail if it can capture fewer consumers than smartphones. Even if only a portion of Xiaomi and Lei Jun's fans purchase electric vehicles, it at least ensures a minimum level of success."
Xiaomi is seeking to expand its global influence based on its success in the Chinese market. Chairman Lei Jun has set 2027 as the year of Xiaomi's overseas listing for electric vehicles and is working on building a network of offline stores.
Original: www.toutiao.com/article/1842139436206089/
Statement: This article represents the views of the author.