Foxconn isn’t the only smartphone maker looking to try its hand at making electric vehicles. Except for Apple and Huawei, Xiaomi is demonstrating the corresponding ambitions. The first electric vehicles of this brand will begin production in 2023 with the support of the auto giant Great Wall, according to informed sources.
The information was disseminated by Reuters, citing negotiations between two Chinese companies. The Great Wall, which has produced over a million vehicles in the past year, will help Xiaomi not only produce but also develop electric vehicles. Currently, the Chinese auto giant already has the Ora brand for its own electric vehicles, and is also building a new facility for contract manufacturing of BMW electric vehicles. Xiaomi and Great Wall will announce a collaboration next week, the source hopes. The actual production of Xiaomi electric vehicles will not begin until 2023 at the earliest.
Alliances like this will proliferate. For example, Baidu is collaborating on the development of electric and always-on vehicles with the Chinese company Geely. According to Reuters, the initiative to enter the EV market comes from Xiaomi founder Lei Jun himself, as the smartphone segment has not only stopped growing but is offering very low profit margins. Amid these rumors, Xiaomi shares rose 6.71%, while Great Wall gained 7-8%.
Along the way, Reuters reported that Xiaomi will unveil its first in-house processor for computers on March 29. Information about this was published on the pages of the social network Weibo by representatives of the company. According to the source, employees of Xiaomi and Great Wall declined to comment on rumors about the possibility of cooperation in the production of electric vehicles.
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