Interesting article from Financial Times: The Steve Jobs of China turns car salesman in Xiaomi’s EV evolution
Xiaomi seems to be the jack-of-all-trades. Nowadays, it's probably easier to list what they don't produce, and it feels like their strategy is paying off well for them.
Electric scooters, wearables, smartphones, electric cars, vacuum cleaners, televisions, kitchen appliances, monitors, hairdryers, speakers, air purifiers, etc. Consequently, a huge user base that uses their apps and products. Therefore, there's a lot of room to tune and integrate everything well.
Alone, 100,000 EVs were pre-ordered, which they didn't expect.
A P/E ratio of 23, compared to Tesla (P/E ratio of 50), Apple (27).
Market capitalization of 434 billion, Tesla 618 billion.
High cash reserves, good sales prospects, broad product portfolio.
I know China is always somewhat risky, but do you think Xiaomi could become the next big thing?
