Xiaomi will produce electric vehicles, according to the company’s president, Lei Jun, who made the announcement. Months of research and deliberation preceded the company’s decision to enter a completely new market, but the decision to take a bold step was finally made. After all, we’re talking about entering a market that’s not only competitive but also demanding.
Xiaomi electric vehicles
A subsidiary was formed, with Lei Jun also taking on the role of CEO, and she will deal with electric vehicles. Xiaomi plans to invest ten billion dollars in research and development over the next ten years. The company does not need to worry about money because it is already the world’s third-largest smartphone manufacturer. Furthermore, there are Smart Home products and services available in China. Xiaomi electric cars will most likely first appear in the Middle Kingdom, but no details about the vehicles have been revealed.
Xiaomi’s new project has a good chance of success. It already has a large number of devoted fans and a large ecosystem. Such a combination has the potential to make Xiaomi’s actual electric cars a huge success in China. In addition, the same technology that Xiaomi is now using in the production of its equipment is being transferred to EVs. We can only wait for more information on what the company intends to offer its fans.