Xiaomi dreams of being a car manufacturer and its first car could go into production as early as 2024. It would be a 100% electric sedan that would cost less than 30,000 euros. Lei Jun, CEO of Xiaomiwants to impose its mark on this sector in the next decade.
Xiaomi is best known for its phones, but that could change. The brand’s objective is to enter the automotive market and today, we have details of his first vehicle.
According to Notebook Check, things are moving in the right direction for Chinese society. After unsuccessful talks with the Beijing Automotive Group Co (BAIC), Xiaomi is said to have decided to open its own factory in China to manufacture its vehicles. An unusual process in the industry.
Xiaomi would bet on a first vehicle from 2024
With this factory, Xiaomi would aim to release its very first car by 2024. It would be a 100% electric four-door sedan. A model reminiscent of what Tesla does. But unlike its American competitor, Xiaomi would bet on a reduced price since the car could cost less than 30,000 euros.
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The firm would accompany its vehicle with an autonomous driving system developed by itself: the Xiaomi Pilot. Based on LiDAR technology, it would thus offer a safe and automated system. Xiaomi does not want to make up the numbers in the automotive market. Earlier in the year, the brand announced a $1.5 billion investment and a ten-year investment of $10 billion. This is what it takes to enter such a closed and defined industry.
Now let’s find out what Xiaomi will offer compared to the competition. Making smartphones is one thing, making cars is another. The issue will obviously revolve around the price of vehicles, a real challenge facing the automotive industry. Many countries are preparing to ban new thermal vehicles (2035 in France) and manufacturers will have to rebalance the balance by offering electricity at affordable prices, which is still very far from being the case today. Xiaomi could come and shake up the market with innovative and inexpensive products, as it did with smartphones, or so we hope.
Source: NotebookCheck