Xiaomi phones are renowned in the mobile industry, boasting a vast and loyal fan base.

Their standout feature is their exceptional cost-effectiveness. Even as they aspire to the high-end market, Xiaomi phones consistently offer the best value for money compared to competitors, especially in the mid to low-end segments.

Xiaomi's unique selling proposition is succinct: "For the same price, higher configurations; for the same configurations, a lower price."

Consequently, when discussing a company that prioritizes cost-effectiveness in a specific field, it's common to liken it to the "Xiaomi" of that industry.

For instance, referring to the "Xiaomi" of phone cases implies that the brand offers high cost-effectiveness and quality akin to Xiaomi phones.

Similarly, when mentioning the "Xiaomi" of the automotive world, two interpretations emerge. One refers to a brand that mirrors Xiaomi phones in terms of cost-effectiveness. The other, logically, refers to Xiaomi-branded cars.

However, based on current circumstances, the automotive world's "Xiaomi" is not Xiaomi Motors.

This statement isn't contradictory. The explanation is straightforward: the automotive brand known for its cost-effectiveness isn't Xiaomi Motors but another brand.

I believe that brand is Leapmotor, renowned in the new energy vehicle industry as the "King of Convolution," surpassing Xiaomi Motors in both complexity and cost-effectiveness.

Currently, Xiaomi Motors primarily offers two models: the SU7 and SU7 Ultra. The SU7 comes in three variants priced at 215,900 yuan, 245,900 yuan, and 299,900 yuan. The SU7 Ultra has only one variant priced at 529,900 yuan, clearly not an inexpensive option.

In contrast, Leapmotor's models are mostly priced in the 100,000-yuan range and often boast higher configurations.

For example, the recently launched B10, equipped with LiDAR and advanced autonomous driving technology, has a top price of just over 120,000 yuan. It truly offers premium configurations at an ordinary car's price.

Consider a range of 510-600KM, Qualcomm's dual flagship chips, and LiDAR. These three features alone would suggest a price tag exceeding 200,000 yuan, yet the B10 is priced between 99,800 yuan and 129,800 yuan.

Objectively speaking, Leapmotor is indeed the automotive world's "Xiaomi," offering exceptional cost-effectiveness, while Xiaomi Motors falls short of this designation.

Data from 2024 reveals that by the fourth quarter, Xiaomi Motors' gross profit margin had surpassed 20%, higher than brands like Tesla. Can it still be considered cost-effective under these circumstances?

Perhaps due to Leapmotor's ultra-high cost-effectiveness, it has excelled among new industry players, firmly establishing itself among the top three.