Visitors to the Xiaomi Automobile flagship store look at the Xiaomi SU7 electric car on display in Beijing, Tuesday, March 26, 2024. Xiaomi, a well-known smart consumer electronics brand in China, is joining the country's booming but crowded market for electric cars. – Xiaomi, a well-known maker of smart consumer electronics in China, is joining the country's booming but crowded market for electric cars.
Xiaomi, founded in 2010, is entering an overcrowded market that analysts expect will undergo a shakeout in coming years, with weaker startups falling by the wayside. Tu Le, the founder of the Sino Auto Insights consultancy, said that Xiaomi is trying to close the loop by adding transportation to a product mix already integrated into its customers' personal and professional lives.
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