Industrial giant Bosch seems to be setting the right course for new automobile technology, while the Xiaomi boss has lost an expensive bet. Here come our winners and losers of the week.
Winner of the week: Bosch
Bosch is a true jack-of-all-trades among the big names in industry. Founded in 1886, the company is particularly active in the automotive sector - and soon even stronger. Bosch has significantly stepped up its activities and investments in fuel cells. The hydrogen drives will soon be mass-produced on a large scale.
At first, it doesn't sound like a big deal, but it should be, because hydrogen cars are considered by many experts to be the best option for the post combustion engine period, which we are inexorably approaching. For carmakers and suppliers - of whom Bosch is one of the largest - the task now is to set the right course. At present, it looks as if Bosch will succeed.
Loser of the week: Xiaomi CEO Lei Jun
To land on the losing side much more classically than the Xiaomi CEO Lei Jun this week is hardly possible. The manager simply lost a bet - and what a bet! In 2013, when Xiaomi was still small fry in the engineering industry, the CEO was flexing on television. Lei had bet on a television broadcast throughout China that five years later Xiaomi's revenues would exceed those of the Chinese company Gree Electric Appliances.
In the heat of the moment, Lei and the other star guests, including Alibaba founders Jack Ma and Wang Jianlin of the Dalian Wanda Group, lost some of their self-control. Lei wanted a symbolic yuan as a stake, but Gree-chair Dong Mingzhu: "Let's make a billion out of it." Lei hit and now had to acknowledge: Xiaomi grew up, but not as big as his boast made out. This wager now costs the CEO the equivalent of 148 million dollars. A big payout, even if Lei Jun is estimated at an annual salary of over 950 million dollars.
What were your tops and flops of the week?