Xiaomi All Set To Disrupt The Automobile Market With A New Electric Car! Talks Are On For Manufacturing
Reports had fled in February about Xiaomi’s possible expansion into the electric car segment, which was rumored to be led by the company’s Lei Jun.
However, the Chinese company had declined confirmations on any such reports and responded that no such projects had been approved.
Now, about a month later, new reports bubble up giving rigidity to Xiaomi’s plans of expanding into the EV segment, with an alleged strategy of trying up with the Chinese (local) automaker, Great Wall Motor.
It must be noted that the Great Wall Motor is the automaker working with BMW to build an electric vehicle factory in China.
Here are all the details you need to know about Xiaomi’s apparent foray and in-lined developments in the EV segment.
Xiaomi’s EV Will be Cost-Effective
Treading on the lines of its smartphone pricings, Xiaomi, as a brand is known to provide a balanced mix of value and performance, with undercut pricings in the smartphone market.
It is expected that the electric car manufactured by Xiaomi will be targeted at the masses. Sources are assuming the pricing to be lower than the likes of Tesla in China.
While the project is the first of its kind for Xiaomi, this is definitely not the first step taken by the conglomerate in the auto industry.
Xiaomi had launched an SUV in 2019, called the Pentium T77.
Xiaomi to Tie-up with a Local Chinese Automaker
While Xiaomi is foraying into the automobile sector, it is alleged to tie up with a local automaker called the Great Wall Motor, for building its electric cars.
Xiaomi is currently in talks with the Chinese auto company to strike a deal allowing it to use its plants to manufacture electric cars, stated a wire agency.
It is anticipated that the two companies will make the deal official by next week, as none of them have confirmed or formally acknowledged anything.
It has been reported that Great Wall Motor will be providing its assistance in areas of engineering consultancy, along with manufacturing facilities, to ramp up the whole EV project.