Browse By

Xiaomi is building an electric car to compete against Tesla

This seems to be the year that large technology companies have decided to turn their attention to the automobile segment. After several rumors about an Apple Car, information about a possible Xiaomi electric car, which could compete with Tesla vehicles, begins to circulate in the international media.

According to a report by iFengNews, the project would be under the direct care of Xiaomi’s founder and CEO, Lei Jun. The billionaire has a longstanding interest in electric and self-driving vehicles – in 2013, Jun was twice in the United States for meetings with Elon Musk, CEO of Tesla.

The timing is pertinent: while the smartphone market is experiencing a downturn in China, with shipments declining year on year, the electric car industry is increasing its popularity around the world. In the last year, Tesla’s market value has increased almost seven times. In addition, the Chinese government has been actively supporting new projects in this area.

It is also worth remembering that Xiaomi already had a small contact with the automotive segment in 2019, when they announced a partnership with the Chinese FAW to create two customized SUV models. Although it sounds quite plausible, the plan has not yet been officially confirmed by the Chinese giant – which leads us to wait for more details in the near future.

One thought on “Xiaomi is building an electric car to compete against Tesla”

  1. Pingback: Xiaomi to invest $10 billion to launch electric car - Digest Time
  2. Trackback: Xiaomi to invest $10 billion to launch electric car - Digest Time

Leave a Reply

Your email address will not be published. Required fields are marked *