He announced a September press conference to unveil a mysterious tech product priced at $199 and $299, though specifics remain undisclosed, sparking anticipation of something related to AR or AI.
Regarding Xiaomi's debut car, the SU7, Luo offered a unique perspective.
He believes Xiaomi stands a chance to succeed in the mass consumer car market through price competition, potentially outstripping rivals with its cost advantage. This showcases confidence and ambition in Xiaomi's automotive endeavors.
"After various subsidies, it's about 200,000 RMB. The SU7 is sufficient to eliminate most gasoline cars, miscellaneous electric cars, and less intelligent electric cars in this price range. Xiaomi is likely to recreate the epic scene of driving out inferior currencies in the mass consumer car market, just as it did in the budget smartphone market," said Luo Yonghao.
Although he once considered entering the car manufacturing sector, Luo also admitted that the barriers to entry are now higher. Increasing capital requirements, production complexities, and the challenge of establishing a supply chain all contribute to this.
Therefore, he believes it's less likely now to venture into the automotive sector. This pragmatic attitude reflects a rational analysis of the market and future planning.
