Given the current competitive landscape among Chinese automakers, it is not surprising that new entrants face challenges in vehicle manufacturing. However, Ji Yue’s recent turmoil seems to have inadvertently provided an opportunity for its competitor, Xiaomi, especially since CEO Jun Lei had previously boasted about ensuring 18 months’ worth of salaries for employees, drawing renewed attention from the public.
Xiaomi’s CNY100 billion cash reserve is seen as lifeline for its automotive ambitions
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Dec