Illustration: Lorenzo D'Alessandro
The Human Cost of Xiaomi’s Rapid Pivot From Smartphones to EVs
China’s tech companies are pushing staff to work longer hours as they seek to dominate new markets and compete with US firms.
Months before he dropped to the floor in agony while grocery shopping with his young son, Wang Peizhi stayed up all night frantically preparing Xiaomi Corp.’s flagship store for the launch of its first electric vehicle.
Wang’s work had piled up after the company, led by billionaire co-founder Lei Jun, unveiled a bold plan to become the first tech firm to successfully shift into carmaking. Lei, 55, staked his reputation on the transition, a feat even Apple Inc. failed to achieve, vowing it was his “last entrepreneurial project.”