Reuters Announces Partner Of Xiaomi In Electric Car Manufacturing

Reuters Announces Partner Of Xiaomi In Electric Car Manufacturing

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According to information quoted by Reuters, Xiaomi will produce the electric car it is working on at its Great Wall engine plant in China. The Chinese company is said to be planning to announce its first model in 2023 and will announce the partnership within the next week.

It is an undeniable fact that every day more and more tech giants are eager to produce electric cars. It's no secret that tech giants like Apple, Huawei are in some plans to produce electric cars and have formed various partnerships. Now, new details have emerged about Xiaomi's plans to produce electric cars.

According to Reuters sources close to the company, Chinese technology giant Xiaomi plans to make a deal with Great Wall Motor, which has been China's largest SUV manufacturer since 2010, at the brand's factory, which takes its name from the Great Wall of China.

One of the main reasons for Xiaomi's entry into the electric vehicle business is the low profit margin in its smartphone business

Quoting sources on the subject, according to previously while providing production services for any company Great Wall Motor, electric vehicle project in order to speed up the phone manufacturer Xiaomi's smart to do engineering consulting. So far, neither Xiaomi nor Great Wall Motors has made a statement on the matter, but both companies are expected to announce the partnership within the next week.

Xiaomi, which already manufactures in many areas from smartphone to Scooter, smart home products to wearable technology, wants to step into the electric car sector, the biggest reason for Xiaomi'S failure to profit sufficiently from its smartphone business, whose costs have increased due to COVID-19.

Xiaomi, which informed its investors about its latest financial reports on Wednesday, said costs were rising due to chip shortages that have become a global crisis, and the company's quarterly revenue fell short of market forecasts. However, Xiaomi's entry into the electric car business may be beneficial not only for the company, but also for the development of intelligent cockpit and autonomous driving technologies.

Xiaomi plans to announce its first electric car in 2023

Lei Jun, founder and CEO of Xiaomi, believes that the company's expertise in hardware manufacturing will help accelerate the design and manufacturing process of electric vehicles. Xiaomi plans to announce its first electric vehicle in 2023, according to sources briefed on the company's plans. As you can imagine, Xiaomi electric vehicles will be connected with other Xiaomi products.

Great Wall Motor, the original pickup truck manufacturer, has shown interest in this issue by announcing an independent brand for its electric and smart vehicles this year. Moreover, the company is also currently building an electric vehicle factory in China for German automotive giant BMW. Therefore, it may not be a surprise that Xiaomi has introduced “Xiaomi” branded cars with the Great Wall engine.

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