Xiaomi Will Start Producing Cars

2023 Author: Natalie MacDonald | [email protected]. Last modified: 2023-05-21 02:36

Xiaomi, a well-known manufacturer of smartphones and other gadgets, may bring its own electric car to the market. According to Reuters, Great Wall promised to help her in this. Previously, similar intentions were voiced by Huawei, another well-known home electronics company from China.

• Xiaomi is already in talks with Great Wall to use the group's capacity to produce its own electric vehicles, agency sources say. The cars will enter the market under a new brand of the company and will fight for a buyer in the budget segment in accordance with the general policy of Xiaomi.
• At the same time, Great Wall has allegedly already promised not only to start producing electric cars, but also to help in their development. The concern was not previously seen in such cooperation.
• Xiaomi's intentions are connected with the desire to diversify its own revenues and enter fundamentally new markets. The two companies may officially announce the union next week, but so far none of the alleged members of the alliance has confirmed this information. The first Xiaomi production vehicles should hit the market as early as 2023.

• The intentions of Xiaomi's direct competitor - Huawei - became known in February. This company also plans to enter the electric car market with the support of a partner (the Changan concern is mentioned in its capacity), and is going to present the first demonstration prototypes by the end of this year.