I have a question for my Chinese friends. A few days ago, Chosun Ilbo, the largest conservative newspaper in Korea, published an article saying that Porsche is being overtaken by Xiaomi. It said that Porsche recognized the potential of the Chinese market early on and went all-in in China from the beginning. By 2015, China had already become Porsche’s largest market, and in the early 2020s, Porsche sold about 100,000 units per year in China, accounting for one-third of its global sales. However, its sales in China fell to 50,000 units last year, and this year it is expected to decline even further. But the article argues that Xiaomi, which sells cars for $27,000, is bringing down Porsche, which sells cars for $68,000. I just don’t understand this. Aren’t $27,000–$30,000 cars and $60,000–$70,000 cars in completely different segments? I find it hard to understand how Xiaomi is “destroying” Porsche…