While the giant byd is starting to give some signs of weaknesses, the Chinese automotive market must now count with a new important player. Starting from nothing a little over a year ago, the new automotive division of the Xiaomi group specialized so far in hi-tech products has made a strong impression on its very first months of existence.
Even if the brand has been affected by a few turbulence in recent weeks, Xiaomi has already sold nearly 300,000 copies of its SU7 sedan. And the marketing of the Yu7 SUV seems to start, it could not be better in view of the statements of the Lei Jun boss.
The richest person in China
These new automotive activities have simply become the richest person in China, quite simply. As the journalists from Car News China, he had already reached this position last February thanks to the ascent of the Xiaomi on the stock market after the good news on the automotive market, before losing it a few weeks later when a deadly accident in Xiaomi SU7 has unscrewed the action.
At a time when we write these lines, Xiaomi’s action again allows Lei Jun to claim this title. When the action was at 52 HKD last February, Lei Jun had about $ 68 billion in personal fortune thanks to market capitalization. Currently, the action is at just over 59 HKD.
The yu7 must boost production
If all goes well, the start of the marketing of the YU7 SUV should allow Xiaomi to significantly increase its annual production. Will the new brand be able to quickly approach the million cars sold annually and make up Tesla who is currently silent? Be careful all the same because the huge Chinese automotive market, richly subsidized, can quickly switch to its manufacturers.
