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Lei Jun's car: ALL IN?

Lei Jun withdrew from a number of Xiaomi affiliated companies and all-IN car manufacturing.

Text/Shanshan Xu

This time, Lei Jun seemed to have made a bet.

Since the beginning of this year, Lei Jun has successively withdrawn from the director seats of a number of Xiaomi-affiliated companies. In December, the action became more frequent, which attracted widespread attention in the industry. On the morning of the 14th, the entry "Lei Jun quit a number of Xiaomi affiliated companies" once rushed to the 36th article of the Weibo hot search list.

Lei Jun's car: ALL IN?

Tianyancha information shows that Zeng Xuezhong, Shang Jin, Zhang Feng, and others who took over lei jun are all core executives within Xiaomi. In response to this matter, Wang Hua, general manager of Xiaomi's public relations department, responded that it was a normal change. Lei Jun's energy this year is mainly focused on car-related matters, and executives can already share some of the related work and responsibilities.

Lei Jun's car: ALL IN?

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Wang Hua further pointed out that this information indicates the acceleration of Xiaomi's car-making work. In other words, it also means that Lei Jun will focus on his "last venture" - car manufacturing in the future.

"ALL IN" went down to build a car

Since investing in Weilai a few years ago, Lei Jun's car-making ambitions may have begun to sprout.

In 2019, Xiaomi invested in Xiaopeng Automobile, a representative of the new domestic car-making force, and since then, the layout of the smart car business has gradually become clear. Has launched the "mobile phone + car", "watch + car", "little love classmate + car" applications, while vigorously investing in key enterprises in the upstream of the industrial chain, the official announcement through the 10 billion yuan admission ticket, the next car.

Changjiang Securities pointed out in the research report in June that the rapid leverage of smart car-related technologies and industrial chains through investment will still be the main feature of Xiaomi's car-side layout. In line with this, Xiaomi's foreign investment has not slowed down.

In October, Xiaomi announced the acquisition of 71.16% of the issued share capital of self-driving technology company Deepmotion, while taking a stake in lithium battery supplier Ganfeng Lithium Battery.

Lei Jun's car: ALL IN?

Recall that Lei Jun said at Xiaomi's 2021 spring press conference, "This time, I will personally lead the team, which will be the last major entrepreneurial project in my life." I am willing to bet on all the reputation of my life, and once again put on the battle and fight for the Xiaomi car. The scene touched countless netizens.

At this conference, Xiaomi confirmed the long-standing rumors of car building. The 52-year-old founder, Lei Jun, gambled on his entire reputation and announced that he would start a business again.

"Determined

Moving, I can't help but think: Can Xiaomi Auto replicate its successful model in the smartphone business? I believe this is also where many people have expectations for Lei Jun.

According to data released by market research institute Canalys, global smartphone shipments in the third quarter of 2021 were 320 million units, down 6% year-on-year. By manufacturer, Samsung shipped 69.4 million units; Apple ranked second with 49.2 million units; Xiaomi followed with 44 million units, with a market share of 14%.

In the field of smartphones, Xiaomi is undoubtedly successful. Based on its strong R&D capabilities and high integration of the supply chain, Xiaomi mobile phones have been labeled as "cost-effective" and used to gallop the domestic and overseas markets.

However, this does not mean that Xiaomi cars can also be successful, after all, interlaced like a mountain. Although SPDB International believes that the electronic manufacturing and supply chain management of new energy vehicles may be closer to the development model of the smartphone industry, so far no mobile phone manufacturer has launched its own brand of cars. Apple is still a failure in this regard.

Despite this, Lei Jun still showed unprecedented steadfastness.

Lei Jun's car: ALL IN?

In March this year, Xiaomi officially announced the official establishment of the smart electric vehicle business, and the first phase will invest 10 billion yuan. In November, Xiaomi set up a second car company. A few days later, Xiaomi Automobile headquarters and factory settled in the Beijing Economic and Technological Development Zone.

The third quarter performance report released by Xiaomi Group shows that the smart electric vehicle business has progressed smoothly, with more than 500 team members. So far, Xiaomi's car manufacturing is steadily progressing.

And Lei Jun has successively withdrawn from a number of Xiaomi-affiliated companies, does it mean that Xiaomi Cars are expected to be in front of the original 2024? We don't know, but what is clear is that Lei Jun must win this time.

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