Automotive industry, are incumbents the new Nokia?

Back to the future, Photo by P. Matile

The latest developments in the automotive industry make me think. Xiaomi, one of the world leaders in mobile phone development and production is bringing a car to the market and plans to become “one of the 5 surviving car companies worldwide in the next years” in what the CEO describes as a hypercompetitive industry. For that reason, his company will invest $10 billion.