After Apple, XiaoMi is making news with its plan to build electric cars for the mid and high-end car market. It is planning to start the process as early as April 2021.
We are yet to digest the fact that Apple is all set to roll out its electric car in the near future. And now another tech giant has jumped into the already heating up electric vehicle (EV) segment.
If we believe the report published in Gizmo China, investors of XiaoMi who are close to Chinese company's CEO and Founder, Lei Jun have revealed the plans of an electric car in the near future. The current CEO is expected the lead the EV project as well. If we believe the reports, XiaoMi will focus on mid and high-end markets to sell its electric cars.
These cars will leverage XiaoMi's robust portfolio of technology. The report also reveals that the CEO of Chinese tech company is already in initial talks with the Chinese automobile maker NIO to build an electric car. The project is expected to start as early as March or April 2021.
The consumer electronics manufacturer has also planned to roll out contracts for local auto makers to take part in the venture. It includes companies like BYD.
CarInfo believes that the entry of XiaoMi in the electric car market will certainly spice-up the competition when all the auto-makers are bracing themselves for the upcoming EV revolution. However, this report is still not confirmed officially by XiaoMi. Hence, we will take these details with a pinch of salt.