Sunday, November 28, 2021
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You will also forget Xiaomi’s smartphone when Xiaomi brand new car will be launched

Xiaomi has a substantial presence in the consumer electronics market, but the temptation to enter the automotive sector may be too strong to resist. While Xiaomi is already a presence in the mobility space thanks to its electric scooters, the company’s first automobile will hit the road in the first half of 2024.

Xiaomi Corp chief executive Lei Jun has said that the business will enter the market on its own and largely manufacture its own automobiles, according to Reuters. According to reports, the announcement was made during an investor event, and has since been verified by the business.

Xiaomi’s stock rose sharply after the announcement, but it is the car industry that may have taken notice. Xiaomi’s foray into the electric car industry could pave the way for a dominant position in China, the world’s largest automobile and electric vehicle market. A piece of the pie here may come at the expense of other local and global firms already out there.

Xiaomi has previously said that it intends to invest $10 billion in its new electric vehicle segment over the next ten years.

Xiaomi isn’t the only consumer electronics business attempting to break into the automotive and transportation industries. For example, Apple’s Project Titan has been a carefully kept secret, although it is known that the ultimate goal is to release an electric vehicle. Then there is Foxconn, Apple’s iPhone partner, which on Monday unveiled three electric vehicles. Another Chinese business, Huawei, is also planning to enter the fight. Others, such as Google and Amazon, are also experimenting with self-driving vehicles.

Many people think that the introduction of electric cars has fairly balanced the playing field. US-based Tesla is the global leader, but traditional auto companies such as Volkswagen, Ford, Hyundai, Toyota and others are also looking to expand to battery-powered options. Proposal.

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