Source: The Next Web
Lei Jun's acknowledgment of Xiaomi's pricing disadvantage and subsequent product correction shows how Chinese automakers compete on cost and speed-to-market in ways legacy competitors cannot match. The move signals Xiaomi's commitment to establishing itself as a credible EV player through rapid iteration rather than prolonged development cycles. Chinese manufacturers are using ecosystem advantages and manufacturing scale to compress price floors faster than Tesla can respond—structural advantages Western automakers lack the agility to counter.