This is the point that The Economist made this week about Xiaomi. It looks like Lei Jun, the CEO, has a bit of a cult following in China.
"With the successful release of the YU7—its second electric vehicle (EV) after the SU7, a sporty sedan launched in March last year—Xiaomi has pulled off a feat that eluded Apple, which ditched plans to make its own EV after burning billions of dollars on the effort over a decade."
There's also a brutal price war going on over there. Those cars will be exported worldwide. Western countries are in a bind: protect the local manufacturer or allow the (much) cheaper and environmentally sound EV in from China?
"China’s smartphone champion has triumphed where Apple failed" [1]