Lei Jun said that this will be the last entrepreneurial project in his life, and he is willing to bet on all the achievements and reputation accumulated in his life.
Editor’s note: This article comes from Tencent Technology.
On the evening of March 30th, Xiaomi Group disclosed the news through the Hong Kong Stock Exchange and officially announced that it would officially enter the car manufacturing industry. This also made the content of the second day of Xiaomi’s spring new product launch in the evening highly anticipated.
At the press conference, Xiaomi not only brought its first folding screen mobile phone, MIX Fold, but also officially announced the car-making information at the press conference. Lei Jun said that this will be the last entrepreneurial project in his life, and he is willing to bet on all the achievements and reputation accumulated in his life.
Lei Jun talked about three entrepreneurial ventures and broke down on the spot, and announced the details of Xiaomi’s car manufacturing process
In the last forty minutes of the press conference, Lei Jun reviewed his past three ventures, including the establishment of Jinshan, the internal entrepreneur Joyo, and the establishment of Xiaomi Technology ten years ago.
Recalling that he would sell Excellence to Amazon. When Lei Jun met Bezos, the then CEO of Amazon, in 2017, Lei Jun burst into tears because of Bezos’s sentence “not taking good care of Excellence”.
Lei Jun announced at the press conference that Xiaomi made a car, and announced that this will be his fourth entrepreneurial venture in his life, and it will also be his last entrepreneurial project. He is willing to overwhelm all the achievements and reputation accumulated in his life. .
Different from previous media rumors, Xiaomi announced the specific content of the car built by Xiaomi in the announcement on the evening of the 30th, and Lei Jun also made an interpretation on the spot. It includes three key core information:
First of all, Xiaomi established a subsidiary company, which will invest more than 100 billion yuan in ten years. Lei Jun also announced on the spot that Xiaomi’s cash will be paid by the end of 2020.The reserve has reached 108 billion yuan, which is enough for the investment cost of Xiaomi’s car manufacturing process in the next ten years;
Secondly, unlike previous media reports, Lei Jun confirmed that all cars built by Xiaomi will be funded by Xiaomi, and Xiaomi has no financing plan for the time being;
In the end, Lei Jun will personally lead the team as the CEO of the smart car business.
And Lei Jun also talked about the timetable for Xiaomi to build cars at the press conference. He said that Xiaomi only officially started investigating the electric vehicle project on January 15.