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Another Phone Giant Eyes EV Market After Apple's Failure, Xiaomi's Success

Major smartphone manufacturer may enter EV market following Apple's failed $10B project and Xiaomi's successful electric car launch with hundreds of thousands of pre-orders.

This development matters because it signals the continued convergence of technology and automotive industries, which could accelerate EV innovation and adoption. As major tech companies with massive R&D budgets and manufacturing expertise enter the electric vehicle space, consumers can expect more advanced features, competitive pricing, and faster technological advancements in electric mobility. The contrasting outcomes between Apple's failed $10 billion project and Xiaomi's successful launch also provide valuable lessons for other companies considering EV market entry, highlighting the importance of execution strategy and market timing in the highly competitive electric vehicle sector.