Xiaomi, the mobile giant, also goes to the electric car

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ACD avatar ACD April 5, 2021

Another technology company that announces that it will manufacture electric cars, although it is not just anyone: Xiaomi, the third largest manufacturer of mobile phones in the world.

After many rumors, the news has been confirmed. Xiaomi, the Chinese company especially known for making mobile phones, enters the electric vehicle market And he does not do it in just any way, but in a big way.

The Chinese phone manufacturer Xiaomi has announced an investment for this industry of 10 billion dollars (about 8,500 million euros) over ten years with the aim of “Offer quality smart electric vehicles”, as pointed out by the technology giant itself and third world manufacturer of smartphones, behind Apple and Samsung.

Huawei DriveOne

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The company will enter the electric car market, which is one of the most competitive today and in which they have also announced that rival technology companies such as Apple and Huawei will participate.

Xiaomi will create a subsidiary of its property with an initial investment of about 1,275 million euros and the company’s CEO, Lei Jun, will lead the new venture. “The decision was made after numerous rounds of deliberation among all our partners, and this will be the last great business project of my life,” explained the manager himself.

For now, little is known about the approach of these electric cars that Xiaomi will assemble, nor if it will produce inexpensive or high-end models, or if it will ally itself with a large car manufacturer in this company. However, according to some media, Xiaomi will partner with Great Wall, the manufacturer of the Ora brand electric vehicles, at least for the production of its first battery model.

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China is becoming the most conducive country to produce and sell electric cars, thanks to the support that your government is giving to this type of technology and the large number of potential existing consumers. In fact, other Chinese tech companies have also stated their intention to make cars, or to partner with existing car manufacturers to produce new driving technologies.

Examples of this are Baidu, the “Chinese Google”, which announced in January that it would also be present in the electric car industry, or the Chinese e-commerce giant Alibaba, which has created an electric vehicle joint venture with SAIC.