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"Delivering cost-effective products has been an important ingredient of Xiaomi's success, but it could be somewhat a hurdle to the company's future development," Lei said at the launch event in Beijing.

"Factories will also be affected," said Oh Ei Sun, senior fellow at the think tank Singapore Institute of International Affairs.

"Everybody can be a stall owner to sell fruits, snacks and whatever passersby like in the street as long as they do not impede traffic. A stall owner doesn't pay a penny to the taxation bureau, because the government is helping people who have become underprivileged because of the coronavirus outbreak," she said.

"Fast-moving brands need to launch new products often to make money. But this is not our vision. We want to make our current product the best it can be," he said.

"Electromobility is already gaining momentum in many countries. The dynamics are driven above all by financial incentives or regulatory framework conditions and attractive model offers of some manufacturers," said study author and CAM director Stefan Bratzel.