Tech Insider: Xiaomi President to Step Down, TuSimple Plans to Cut Staff by 25%

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Xiaomi President to step down later this month

Wang Xiang will step down as Xiaomi Corp. president on Dec. 30, the company’s co-founder and Chairman Lei Jun said Thursday in a letter to employees, the latest leadership reshuffle by the smartphone giant that is betting big on electric vehicles.