xiaomi continues to expand its product lineup. The company, which already has a presence in almost every sector, is now targeting the electric vehicle market. As many might know, there have been rumors circulating about an EV named MS11 for a while. Just like in many countries, there are various legal procedures in China, and Xiaomi is awaiting approval from Beijing to produce EVs on its own. In the meantime, the company is exploring partnerships to get its vehicles on the road sooner. Here are the details…
Accelerating the EV Dream, Xiaomi in Search for Auto Partnerships
According to the recent reports, Xiaomi in talks with several vehicle manufacturers, including Brilliance Auto, Chery, and Beijing Automotive Group. While it's uncertain which company Xiaomi will ultimately partner with and on what terms, it's evident that they are keen on breaking into the electric vehicle market.
Actually Xiaomi already made significant investments in EV technology and have brought on a skilled team of engineers and executives for their EV projects. Xiaomi CEO Lei Jun, has committed to investing approximately $10 billion in their electric vehicle endeavors and aims to launch their first electric car next year.
A partnership with an established automaker could help Xiaomi to accelerate its EV plans. Xiaomi could leverage the automaker's expertise in manufacturing, design, and supply chain management. The automaker could also benefit from Xiaomi's expertise in consumer electronics and software development.
It remains to be seen whether Xiaomi's talks with carmakers will lead to any concrete partnerships. However, the news that Xiaomi is in talks with established automakers is a sign that the company is serious about entering the electric vehicle market.