“Xiaomi SU7: Out with the old, in with quality!” – Luo Yonghao

Recently, Luo Yonghao shared his thoughts on the Xiaomi SU7, stating, “After various subsidies, the price will be reduced by nearly 200,000 yuan, enough to eliminate most gas-powered cars, miscellaneous electric vehicles, and less intelligent electric vehicles in this price segment. Xiaomi is likely to once again play out an epic scene of good money driving out bad money in the mass consumer car market, following its success in the budget smartphone market.”

A long time ago, during a live streaming session, he mentioned the Redmi brand, saying, “When the first generation of Redmi was introduced, everyone said, ‘If this phone is priced at 999 yuan, all copycat manufacturers around the world will have to shut down.’ Surprisingly, the first generation of Redmi was actually sold for 799 yuan, leading to the closure of all Chinese copycat manufacturers during the years when we were making phones! This is a classic case of good money displacing bad money. From this perspective, Xiaomi has made immeasurable contributions!”

Moreover, there has been a business change in Luo Yonghao’s company, “Beijing Xihongxian Technology Co., Ltd.,” with additions to its business scope, including manufacturing and sales of mobile terminal devices, manufacturing and sales of mobile communication devices. Could it be that they are planning to re-enter the market and produce products again?

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