has yet to unveil its first electric vehicle but has ambitious aims of establishing itself as one of the world’s largest car manufacturers.
“The manufacturing threshold of EVs has been dramatically lowered compared to gasoline cars: 30,000 components are highly modular, and the cost of batteries has fallen by 80% in the past ten years ,” Lei said. “Therefore, I think EVs are a form of consumer electronics with intelligentization, software, and user experience at the core. The essence of the auto industry will evolve from mechanics to consumer electronics, where market share is highly concentrated among the top players.
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