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最近几年很多行业的巨头公司都开始跨领域进军电动汽车市场，格力、乐视、百度、恒大、腾讯、阿里巴巴等等，虽然考研基本不考国内新闻，但是新能源汽车相关内容还是可以关注一下哦～
Product placement
in Korean
shows
began
in earnest in 2010, （when South Korea’s stringent broadcasting laws eased restrictions on the practice/ in an effort to increase network revenues and promote Korean goods）.
韩剧中的植入广告于2010年正式出现
，当时为了增加网络电视收入、推广韩国产品，原本严格的韩国广电法放松了对这种做法的限制。
1.in earnest: if something starts happening in earnest, it begins properly – used when it was happening in a small or informal way before
2.stringent: (of a law, rule, regulation, etc.) very strict and that must be obeyed
不是苹果，而是小米，这家全球第三大的智能手机制造商正在迅速进军汽车制造领域。
The Chinese electronics company said Tuesday that it will spend $10 billion over the next decadeto enter the EV business, with an
initial
investment at around $1.5 billion. There are few details, but being new to car making, Xiaomi will likely find an outside partner to handle the manufacturing, while it focuses on design and engineering.
这家中国电子产品公司于周二表示，未来10年将斥资100亿美元进军电动汽车领域，初始投资约为15亿美元。目前没有透露多少细节，但作为汽车制造业的新手，小米可能会找一个外部合作伙伴来负责制造，而该公司自己则专注于设计和策划。
China’s search-engine giant Baidu is doing something similar: It has joined with Zhejiang Geely Holding Group, the parent of Volvo Cars, to make EVs. Apple was also looking for car-making partners, although its earlier talks with Hyundai Motors broke down. Such an
outsourcing
model is also used by some Chinese EV startups such as Nio.
中国的搜索引擎巨头百度也在做类似的事情：它与沃尔沃汽车的母公司浙江吉利控股集团合作，生产电动汽车。尽管先前与现代汽车的谈判破裂了，苹果也仍然在寻找汽车制造合作伙伴。蔚来汽车等中国电动汽车初创企业也采用了这种外包模式。
But the project is clearly at the top of Xiaomi’s agenda. Its chief executive officer and founder, Lei Jun, will personally oversee what he said is the final major entrepreneurial project of his life. And it is clearly aimed at taking advantage of the recent frenzy in EV stocks: Baidu’s shares, for example, surged this year before recently being sold down in the Archegos
debacle
.
但这个项目显然是小米规划里的重中之重。该公司首席执行官兼创始人雷军将亲自监督这一项目，据他所说，这是他人生中最后一个重大创业项目。其目的显然是为了利用近期电动汽车类股票的疯狂走势：举例来说，百度的股票今年一度出现大涨，最近又因Archegos爆仓事件被抛售。
It is also a bet that cars will become more like giant smartphones. If autos become a combination of software and hardware, then technology companies will have an edge designing cars that appeal to consumers, compared with traditional auto makers. Full self-driving cars are the holy
grail
of such an evolution, though that is likely still years away.
这也是一场赌博，即汽车将变得更像一个巨型的智能手机。如果汽车成为软件和硬件的结合体，那么与传统汽车制造商相比，科技公司在设计吸引消费者的汽车方面将会更有优势。全自动驾驶汽车是这一发展过程的最终目标，尽管这很可能还需要几年的时间才能实现。
And the gamble looks affordable for Xiaomi. The $1 billion average annual investment is similar to the early stage of other EV startups, according to Morgan Stanley. The spending is only around a third of its annual operating cash flow while Xiaomi is also
sitting on
$11.9 billion of net cash and short-term investments.
Xiaomi is also coming from a position of strength in its core business: It was the world’s third-largest smartphone maker in late 2020 after taking market share from troubled rival Huawei.
而对于小米来说，这场赌博似乎是赌得起的。根据摩根士丹利的数据，（小米）10亿美元的年平均投资额与其他电动汽车初创公司早期阶段的投资额相当。这笔支出只占小米年度经营现金流的三分之一左右，而小米还坐拥119亿美元的净现金和短期投资。
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本文节选自：The Wall Street Journal（华尔街日报）
