Personally, I had a good impression of Mr. Lei of Xiaomi Group at the very beginning. Later, after I bought Xiaomi Mi 4, I became disdainful of Mr. Lei. Now he has regained respect.

I personally had a good impression of Mr. Lei from Xiaomi Group at the very beginning. Later, after I bought Xiaomi 4, I became disdainful of Mr. Lei. Now he has regained respect. There are not many older generation Internet entrepreneurs who are still active on the front line. Although Mr. Lei often slaps himself in the face, this is common for military strategists. Mr. Lei’s vision and execution ability are worth learning.

Just like the issue of building a car, Mr. Lei’s judgment is very accurate. If you don’t build it, you will definitely fall behind. But the plan could not keep up with the changes. Huawei did not withdraw from the mobile phone market. Honor regained its original position. Mr. Lei’s original mobile phone reached the top. Taking advantage of the trend, the mobile phone was put under pressure, and the battle was fought on two fronts. Under this circumstance, Mr. Lei's latest statement is still that "the progress of our smart electric vehicle business has been exceeding expectations, and we are confident that it will be successfully mass-produced and launched in the first half of 2024."

Building a car is actually not the most difficult thing. Evergrande has sold 100 Hengchis. What is difficult is to sell well. "Wei Xiaoli" has been working hard for so long, and its monthly sales are still between 10,000 and 20,000 units. Moreover, if you are a news porter, compare the investment of , Xiaomi and "Wei Xiaoli". Xiaomi's financial report shows that the investment in smart electric vehicles in the first three quarters of 2022 was 425 million yuan, 611 million yuan and 829 million yuan respectively. Xiaomi still has a factory here. The third quarter performance indicators of " Wei Xiaoli " are:

Data source: public data collection

If Xiaomi's investment and "Wei Xiaoli"'s R&D expenses are plotted together, it is:

Xiaomi's automobile-related investment is only a fraction of "Wei Xiaoli"'s R&D expenses

Is Xiaomi's investment in automobiles too small? Of course, it cannot be ruled out that Xiaomi’s cost-effective research and development can match one to a hundred. The first half of 2024 is still early, and Mr. Lei will have plenty of time to slap himself in the face.