Xiaomi goals to promote 10 million EVs a yr, attain prime 5

Electronics agency Xiaomi goals to promote 10 million electrical autos a yr, mentioned Xiaomi founder and CEO Lei Jun in accordance with Automotive Information China. The Xiaomi Group has invested US$115.9 million (RM517.5 million) in progressive companies, which incorporates electrical autos, in accordance with the group’s monetary report for the third quarter of this yr.

Automotive Information China additionally cites Chinese language social media as saying {that a} Xiaomi prototype automobile has been produced on the finish of September, internally dubbed MS11. This has been mentioned to make use of 800V expertise, whereas its powertrain produces 354 hp.

The corporate’s founder and CEO wrote on Twitter that he foresees the world’s prime 5 manufacturers holding greater than 80% market share within the electrical automobile phase, including that the one method for Xiaomi to be a part of mentioned prime 5 is to promote greater than 10 million autos yearly.

In his Twitter thread, Lei Jun didn’t specify when Xiaomi will attain that annual gross sales quantity, nevertheless that concentrate on is a good distance up from the determine reported in an earlier report by Reuters from November final yr, which mentioned that the home equipment and electronics large will construct a producing plant in Beijing with an annual capability of 300,000 models.

Previous to that, Xiaomi was reported to be in collaboration with Nice Wall for the manufacturing of electrical autos, with sources on the time saying that the EVs can be badged beneath the Xiaomi model, and these can be aimed on the mass market.

As for Nice Wall Motors (GWM), it was reported in December 2020 to have deliberate to introduce a standalone electrical automobile model at greater worth factors than earlier than. It already has the Ora model for extra inexpensive EVs which introduced the Ora Good Cat to Thailand final February, and which was previewed in December 2021. This EV hatchback can be formally launched in Malaysia subsequent week.