Xiaomi car: We all have seen Xiaomi’s cheap phones, but have you seen Xiaomi’s electric cars? If you haven’t seen it, very soon you will be able to buy and drive Xiaomi’s cheap electric car. As per a Reuters report of Reuters, the Chinese smartphone maker got approval from the National Development and Reform Commission (NDRC) to manufacture electric vehicles.
This is a big step towards the target of making a car by this smartphone maker company early next year. However, the company will have to get permission from the Ministry of Industry and Information Technology (MIIT) to start a manufacturing unit of electric vehicles.
Meanwhile, Xiaomi has already revealed its first electric car, the Modena, codenamed MS11. It is an electric sedan, which might be cheaper than the Tesla Model S.
Will have to face big Challenges
Xiaomi is aiming to enter China’s car manufacturing industry at a time when the world’s largest automobile market is grappling with a lot of problems, including capacity constraints and declining demand, which have already fueled price competition. Once the company starts producing electric cars, The company will have to deal with existing manufacturers. Global tech giants like Apple and Sony have already expressed their interest in making cars. Sony took it a step further by showcasing a prototype of its electric car, which it co-developed with Honda.
Target to manufacture 200,000 electric cars annually
Talking about Xiaomi’s car-making ambition, the company promised to invest $10 billion over a decade in the automobile business. The tech company, which intends to enter the EV market, has set a target to mass-produce its first cars in the first half of 2024. The company is reportedly building a factory in Beijing capable of producing 200,000 electric cars annually.
The report also suggests that Xiaomi aims to produce around 100,000 EVs in 2024. Keeping the target in mind, it has reportedly started hiring people for its EV plant since last week, as it prepares for a production ramp-up in December.
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