The Chinese automobile industry is leaping forward and very soon it will get another boost with the entry of the technology giant Xiaomi into car production.
As Shiomi already manufactures almost every electronic product you can think of, from cell phones and headphones to electric scooters.
As electric cars are day by day becoming more of a motorized gadget than a car Xiaomi sees expansion into the modern automotive industry as a natural step.
More from Overdrive >>>
Xiaomi established its car division a little over a year ago and in the meantime invested about 1.4 billion dollars in the development process of an electric car and even received permission to start manufacturing its own car in China.
At the same time, Xiaomi is already in the advanced testing stages of assistance systems for autonomous driving, but these are based on prototypes of different models.
Although it claims to have a working prototype of an electric vehicle, it has yet to be officially unveiled.
All of this did not prevent the company's founder and CEO Lei Jun, also known as the Chinese Elon Musk, from recently making pretentious statements on Twitter and in various media that Xiaomi's way to survive in the electric vehicle industry, of which he claims 80% will be divided between 5 giant companies, is to reach the production of 10 million cars a year.
Just to explain the situation, Toyota and the Volkswagen Group, which are among the largest manufacturers in the world, each produce about 10 million cars worldwide, in a global production system with several brands and dozens of models.
As mentioned, Xiaomi has not yet produced a single car.
Xiaomi: Now the car
By the end of the decade, Xiaomi intends to invest 10 billion dollars in the development of a line of electric models and is already in talks to purchase batteries from the two prominent manufacturers in China: BYD and CTAL.
As it stands right now, Xiaomi's way to realize its ambitious vision is simply to use its strong financial backing and go on a shopping spree to gather whatever technology is available for its future cars.
As of now, the expectation is that Xiaomi's first car will hit the Chinese market in early 2024, and if the company adopts its aggressive marketing line, which has made it the third largest cell phone manufacturer in the world and one of the largest technology companies in China, we are expecting what Lei defined in one of his tweets as "brutal competition."
were we wrong
We will fix it!
If you found an error in the article, we would appreciate it if you shared it with us
