Xiaomi’s electric car plans were announced less than a year ago, but the company is already making brisk progress ahead of its potential rival Apple.
Chinese consumer electronics giant Xiaomi says it will begin mass production of its first vehicle a tad earlier than expected in the first half of 2024. Established just over a decade ago, the company’s extremely fast growth and product portfolio diversification have been quite a spectacle. Once known for making Apple rip-offs, the company has now dethroned Apple as the world’s second-largest smartphone maker and just shy of toppling Samsung from the No. 1 spot.
But it’s not just the feat of overtaking Apple in the phone business where Xiaomi excels. The company is also the world’s largest wearable brand ahead of Apple and its venerable Apple Watch. Over the years, the company’s product range has rapidly grown to include everything from gaming laptops and smart cameras to electric toothbrushes and even a dog-like robot. Xiaomi’s electric vehicle ambitions were announced less than a year ago, but the company has lately accelerated the pace of team expansion and investments to get things going.
As per a Reuters report that cites a company spokesperson, the company is already aiming to mass-produce its first electric vehicle in the year 2024. And given the company’s knack for making value-for-money products, Xiaomi’s electric car will try to undercut rivals by offering a well-rounded package at a competitive price. Xiaomi chief Lei Jun also tweeted that the company’s electric vehicle plans are moving ahead of schedule, and mass production will kick off roughly three years from now. Taking a look over at a familiar competitor, Apple’s own electric car is rumored to arrive in the same year as well.
Xiaomi Might Beat Apple To The EV Race At Its Current Pace
Xiaomi completed the registration of its electric car division — called Xiaomi EV— just over a month ago, while an investment of $10 billion was announced back in March this year. But so far, there has been no official information on whether Xiaomi will make its own car or if it will outsource the work to a more established name in the industry. Another Reuters report from April mentioned that Xiaomi would manufacture its electric car at the Chinese automobile manufacturer Great Wall Motors factory. Xiaomi’s electric vehicle will reportedly offer some ecosystem linking with its own lineup of products, baking in integrated controls somewhat like the rumored Apple CarPlay upgrades.
If Xiaomi decides to outsource the assembly of its electric vehicle, it won’t be alone in doing so, as Apple is reportedly exploring the same route as well. Apple is well-versed with the contract manufacturing process in China, where a wide range of its products, such as iPhones and MacBooks, are assembled, most of which are handled by Foxconn. Interestingly, Foxconn showed off three electric vehicle prototypes of its own earlier this week that serve as reference designs for making electric cars on behalf of other brands. However, it remains to be seen whether Xiaomi beats Apple to the market with the debut of its first electric vehicle.
Sources: Reuters (1), (2), (3)
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