In 2024, Xiaomi Corporation (HKEX: 1810) has made waves in the stock market, surging an impressive 120% year-to-date (YTD). This growth has sparked discussions about the tech giant's potential to compete with established players like Tesla (NASDAQ: TSLA), particularly as Xiaomi ventures into the electric vehicle (EV) market. However, while Xiaomi's achievements deserve applause, it’s important to put the narrative in perspective. Tesla and Xiaomi operate in different realms, and their competition—if it materializes—will largely be confined to the EV field. Xiaomi: A Tech Powerhouse Diversifying into EVs $XIAOMI-W(01810)$ What Xiaomi Does Founded in 2010, Xiaomi began as a smartphone company and has since expanded into a tech conglomerate. Known f

As a long-time Xiaomi phone user, I can attest to the brand’s reliability and affordability. The phone performs well, allowing me to run various apps without issues, making it a practical and cost-effective choice compared to many other brands. Xiaomi’s ability to deliver high-quality technology at competitive prices has been a significant factor in its widespread appeal, especially in markets where affordability is a key consideration. While I haven’t had the opportunity to drive Xiaomi’s electric vehicles (EVs), initial impressions suggest they are well-designed and could emerge as serious contenders in the EV market. However, it’s one thing to manufacture high-quality consumer electronics and another to break into the competitive EV space, where Tesla has set a high bar for innovation,