Xiaomi, is entering the electric vehicle market…

It is reported that Chinese smartphone maker Xiaomi will participate in electric vehicle manufacturing.

According to this, Xiaomi plans to produce electric vehicles at the factory of Great Wall Motor, a Chinese car manufacturer. The alliance will be announced soon and the first car will be launched around 2023. In addition, the Xiaomi electric vehicle is said to provide connectivity with other devices in the company.

Xiaomi sells not only smartphones but also a variety of products through its own brand, from rice cookers to electric scooters. In order to further expand this product lineup, it may be planned to sell electric vehicles.

Meanwhile, in China, Baidu, which develops a search engine, announced that it would produce electric vehicles using the Geely Automobile plant. In addition, there are often reports that Apple in the US and Huawei in China are also planning to enter the automobile industry.

Xiaomi CEO Leijun previously said that the hardware product profit margin will be suppressed to less than 5%, and if it exceeds it, it will give back to users. If this rule is applied to the company’s electric vehicle, it is expected that a product that is quite price competitive can be expected. Related information can be found here.