Chinese smartphone manufacturer Xiaomi has successfully developed an electric vehicle (EV), achieving a milestone that Apple has not managed despite a decade-long effort. Xiaomi's approach focused on leveraging its existing strengths in handset infotainment and stylish design, coupled with cost advantages from manufacturing in China. In contrast, Apple aimed for a more ambitious goal of creating a self-driving car akin to an "iPhone of cars," but struggled to bring a product to market. Xiaomi's success in the EV sector has enhanced the reputation of its founder Lei Jun and elevated the company to one of the most valuable tech firms in China. Bloomberg hosted a live Q&A on July 7 discussing Xiaomi's strategy and the implications for global competitors such as Tesla.