Lei Jun stated that resisting involution does not involve price wars
On June 3rd, Lei Jun, founder, chairman, and CEO of Xiaomi Corporation, stated at the Xiaomi Investor Conference that they will not engage in price wars to counteract internal competition and will soon produce automotive chips. Lei Jun mentioned that the price of the YU7 standard version will not just be 20,000 higher than that of the SU7 standard version; new businesses such as automotive and chips are expected to break even in profitability in Q3-Q4 of this year
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