Xiaomi, the Chinese technology giant known for its smartphones, has indeed made a significant foray into the electric vehicle (EV) market with its Mi brand. Under the leadership of its founder and CEO, Lei Jun, the company has embarked on an ambitious journey to diversify its product portfolio and tap into the growing demand for EVs in China.

While Apple has long been rumored to be working on its own electric vehicle project, dubbed "Project Titan," it has yet to bring a consumer-ready car to market. In contrast, Xiaomi has made swift moves to enter the automotive sector by launching its Mi Electric Vehicle (MiEV) division in March 2021. The company's first electric vehicle, the Xiaomi Mi Mix Fold, was unveiled in April 2021.