Xiaomi will steer electric cars

27 March 20213 years ago babelfish

Xiaomi aims to launch the first electric car in 2022. Negotiations underway for production with Great Wall

Xiaomi steers on electric cars. The Chinese tech company, one of the largest smartphone manufacturers, intends to expand its core business and enter a market with great prospects.

The launch of the first vehicle is expected to arrive in 2022.

PRODUCTION

The company, writes Cnbc , has already started negotiations to use one of the Great Wall plants in China, to build electric vehicles with its own brand, according to sources close to the dossier. Both companies plan to announce the partnership early next week.

FROM GREAT WALL ALSO CONSULTING

From the largest private car manufacturer in China, an engineering consultancy would also come in favor of Xiaomi to accelerate the project, said one of the sources.

XIAOMI AIMS FOR THE MASS MARKET

The tech company, which is expected to launch its first model in 2022, intends to position its vehicles on the mass market.

GOAL: DIVERSIFY BUSINESS

Xiaomi's move, Reuters writes, comes as the Chinese house tries to diversify its revenue streams, currently too dependent on smartphone sales alone and with "razor-thin profit margins," writes the newspaper.

THE OTHER BIG TECH ALSO TRY TO CONQUER THE ELECTRIC CAR MARKET

And most importantly, themove does not come alone. The Chinese Baidu in January announced its entry into the battery-powered racing cars market. And the social media giant, Tencent, and the e-commerce giant, Alibaba, are already active in the sector.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/xiaomi-sterza-sulle-auto-elettriche/ on Sat, 27 Mar 2021 14:59:38 +0000.