SHANGHAI: Thought your smartphone was taking over your life? Your car may be next as Chinese firms lead a Big Tech stampede into auto manufacturing in their battle for more consumers.
Cars are the next major prize in the battle for digital territory, industry insiders say, and the deep pockets and data muscle of big Chinese tech firms will fuel even faster growth in “smart-electric” vehicles — and possibly hasten the arrival of autonomous cars.
In recent weeks, Chinese smartphone giants Huawei and Xiaomi, e-commerce leader Alibaba, and even DJI, the world’s top drone manufacturer, have thrown their hats into the ring.
“This sort of competition is a good thing and will greatly accelerate innovation,” William Li, founder, chairman and…
