Xiaomi ponders on entering the EV market

22 February 2021, 03:31:48

Xiaomi ponders on entering the EV marketVarious Chinese media report that Xiaomi is pondering on entering the EV market. One of the top smartphone vendors in the world has already ventured into the TV market and quite successfully so far. Obviously, it wants to have a chunk of the promising EV market and sees it as a strategic decision that will future-proof the company.

In 2013, Lei Jun, co-founder and CEO of Xiaomi, went to the USA twice to visit Tesla's CEO Elon Musk. This happened after Lei Jun wrote on his official account that he had a great curiosity about the EV business. Later on, in 2015, Xiaomi invested in Weilai, internationally known as NIO. In 2016, the company made a small investment in XPeng. At that time, the EV business did not seem that much rewarding. However, in 2018 the company went public, became a top smartphone vendor, and started exploring more business possibilities. In 2019, Xiaomi became a strategic investor in XPeng in 2019.

A former core employee of Xiaomi told "LatePost" that Xiaomi had launched an internal survey of a car-building project called "micar", led by the staff responsible for formulating Xiaomi's strategy. Wang Chuan, who was the chief of staff of Xiaomi at the time, has repeatedly communicated with senior executives of Chinese new car companies such as NIO and XPeng to understand the business. This may be the first time that Xiaomi has seriously considered building a car. The brand already has plenty of "Mi Car" accessories on the market.

Xiaomi's latest round of discussions on car manufacturing took place in the third quarter of 2019. "LatePost" learned from people close to Xiaomi's senior management that at that time, Xiaomi's decision-making makers proposed to build cars on the board of directors. Wang Chuan took out a research report on the automotive industry and suggested to Lei Jun that from the end of 2019 to the beginning of 2020, it was Xiaomi's time to enter the market but Lei Jun still had concerns because at that time, the industry situation was not optimistic. At the same time, Xiaomi is also deploying this business through foreign investment in car networking companies. In April 2020, Xiaomi participated in the B round of financing of car service system manufacturer PATEO as a strategic investor.

In June 2019, Xiaomi announced its cooperation with Mercedes-Benz to promote its virtual voice assistant Xiao Ai to enter the automotive human-computer interaction system. Two months later, the head of Xiaomi MIUI (the brand's own OS based on Android) said in the "MIUI head online" event that he is considering developing a MIUI-based car service system. By June 2020, Xiaomi has further applied for the registration of the Xiaomi Mi Chelian trademark and related graphic trademarks. The brand already has plenty of "Mi Car" accessories on the market. Since 2015, according to the patent application documents published in the Patent Announcement System of the State Intellectual Property Office, Xiaomi has successfully applied for car-oriented inventions such as car cruise control, energy supplementation, vehicle control, navigation, assisted driving, and driving safety.

The decision to build a car this time probably means that in Lei Jun's view, the new energy vehicle's general direction has been relatively determined, and the opportunities have already outweighed the risks. A person close to Lei Jun told "LatePost": "The timing makes him (Lei Jun) make up his mind." According to the requirements of the "New Energy Automobile Industry Development Plan (2021-2035)" issued by the State Council, the sales volume of new energy vehicles will reach 20% of the total sales of new vehicles in 2025. At the same time, the smartphone market is facing the opposite situation. According to data from the China Academy of Information and Communications Technology, China's mobile phone shipments fell year by year after reaching a high of 560 million units in 2016. However, compared to smartphones, TVs, and smart home products, automobiles pose a greater challenge in terms of complexity, safety requirements and capital investment. From product manufacturing to sales channels, Lei Jun and Xiaomi need to be further adapted.Source

Related news

News related to Xiaomi or Mi Car

Xpeng Motors receives a round of Series C funding of US$400 million, Xiaomi is a strategic investor

XPENG Motors - a Chinese EV manufacturer - has announced that it has received a Series C capital funding of US$400 million. The capital comes from "a group of strategic and institutional investors, bringing together an unparalleled combination of corporate and individual investors, as well as renowned private equity firms." An interesting fact here is the Xiaomi will join as a strategic investor. This company is...

14 November 2019

EV Specifications

Complete specifications of EVs, grouped according to their brand and year

AudiBMWBytonChevroletDaciae.GOFIATFordHondaHyundaiJaguarKIAMazdaMercedes-BenzMGMININIONissanOpelPeugeotPolestarPorscheRenaultRivianSEATŠKODAsmartTeslaVolkswagenVolvo

Featured

Specifications of some of the most interesting and anticipated EVs.

2022 Hyundai IONIQ 5

2022 Hyundai IONIQ 5 Long Range AWD

Doors: 5, Seats: 5
Length: 182.5 in / 4635 mm
Width: 74.4 in / 1890 mm
Height: 63.2 in / 1605 mm
Location: Rear
Location: Front
Battery: 72.6 kWh, Voltage: 800 V

2022 Hyundai IONIQ 5

2022 Hyundai IONIQ 5 Long Range RWD

Doors: 5, Seats: 5
Length: 182.5 in / 4635 mm
Width: 74.4 in / 1890 mm
Height: 63.2 in / 1605 mm
Electric motor: 160 kW, 350 Nm, Location: Rear
Battery: 72.6 kWh, Voltage: 800 V

2022 Chevrolet Bolt EUV

2022 Chevrolet Bolt EUV Launch Edition

Doors: 5, Seats: 5
Length: 169.5 in / 4305 mm
Width: 69.7 in / 1770 mm
Height: 63.6 in / 1616 mm
Curb weight: 3679.52 lb / 1669 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2022 Chevrolet Bolt EUV

2022 Chevrolet Bolt EUV Premier

Doors: 5, Seats: 5
Length: 169.5 in / 4305 mm
Width: 69.7 in / 1770 mm
Height: 63.6 in / 1616 mm
Curb weight: 3679.52 lb / 1669 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2022 Chevrolet Bolt EV

2022 Chevrolet Bolt EV Launch Edition

Doors: 5, Seats: 5
Length: 163.2 in / 4145 mm
Width: 69.5 in / 1765 mm
Height: 63.4 in / 1611 mm
Curb weight: 3589.13 lb / 1628 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2022 Chevrolet Bolt EV

2022 Chevrolet Bolt EV 2LT

Doors: 5, Seats: 5
Length: 163.2 in / 4145 mm
Width: 69.5 in / 1765 mm
Height: 63.4 in / 1611 mm
Curb weight: 3589.13 lb / 1628 kg
Electric motor: 150 kW, 360 Nm, Location: Front
Battery: 65 kWh, Voltage: 350 V

2021 Volkswagen ID.3

2021 Volkswagen ID.3 Pro S Tour

Doors: 5, Seats: 4
Length: 167.8 in / 4261 mm
Width: 71.2 in / 1809 mm
Height: 61.7 in / 1568 mm
Curb weight: 4263.74 lb / 1934 kg
Electric motor: 110 kW, 310 Nm, Location: Rear
Battery: 45 kWh, Voltage: 408 V

2021 Volkswagen ID.3

2021 Volkswagen ID.3 Pro Performance Max

Doors: 5, Seats: 5
Length: 167.8 in / 4261 mm
Width: 71.2 in / 1809 mm
Height: 61.7 in / 1568 mm
Curb weight: 3979.34 lb / 1805 kg
Electric motor: 150 kW, 310 Nm, Location: Rear
Battery: 58 kWh, Voltage: 408 V

2021 Opel Mokka-e

2021 Opel Mokka-e Launch Edition

Doors: 5, Seats: 5
Length: 163.4 in / 4151 mm
Width: 70.5 in / 1791 mm
Height: 60.3 in / 1532 mm
Electric motor: 100 kW, 260 Nm, Location: Front
Battery: 50 kWh

2021 Hyundai KONA Electric

2021 Hyundai KONA Electric Ultimate 64 kWh

Doors: 4, Seats: 5
Length: 164.6 in / 4180 mm
Width: 70.9 in / 1800 mm
Height: 61.2 in / 1555 mm
Curb weight: 3836.04 lb / 1740 kg
Electric motor: 150 kW @ 3600 rpm, 395 Nm, Location: Front
Battery: 64 kWh, Voltage: 356 V

2021 Tesla Model 3

2021 Tesla Model 3 Performance AWD

Doors: 4, Seats: 5
Length: 184.8 in / 4694 mm
Width: 72.8 in / 1849 mm
Height: 56.8 in / 1443 mm
Curb weight: 4100.6 lb / 1860 kg
Electric motor #1: 211 kW, Location: Rear
Electric motor #2: 147 kW, Location: Front
Battery: 79.5 kWh, Voltage: 360 V

2021 Tesla Model 3

2021 Tesla Model 3 Long Range AWD

Doors: 4, Seats: 5
Length: 184.8 in / 4694 mm
Width: 72.8 in / 1849 mm
Height: 56.8 in / 1443 mm
Curb weight: 4071.94 lb / 1847 kg
Electric motor #1: 188 kW, Location: Rear
Electric motor #2: 147 kW, Location: Front
Battery: 79.5 kWh, Voltage: 360 V

2021 Tesla Model Y

2021 Tesla Model Y Performance AWD

Doors: 4, Seats: 5 / 7
Length: 187.0 in / 4751 mm
Width: 75.6 in / 1921 mm
Height: 63.9 in / 1624 mm
Curb weight: 4415.86 lb / 2003 kg
Location: Rear
Location: Front
Battery: 74 kWh

2021 Tesla Model Y

2021 Tesla Model Y Long Range AWD

Doors: 4, Seats: 5 / 7
Length: 187.0 in / 4751 mm
Width: 75.6 in / 1921 mm
Height: 63.9 in / 1624 mm
Curb weight: 4415.86 lb / 2003 kg
Location: Rear
Location: Front
Battery: 74 kWh

2021 Tesla Model X

2021 Tesla Model X Performance

Doors: 4, Seats: 5 / 6 / 7
Length: 198.3 in / 5037 mm
Width: 78.7 in / 1999 mm
Height: 66.0 in / 1676 mm
Curb weight: 5740.84 lb / 2604 kg
Electric motor #1: 375 kW, 720 Nm, Location: Rear
Electric motor #2: 205 kW, 420 Nm, Location: Front
Battery: 100 kWh, Voltage: 350 V

2021 Tesla Model X

2021 Tesla Model X Long Range Plus

Doors: 4, Seats: 5 / 6 / 7
Length: 198.3 in / 5037 mm
Width: 78.7 in / 1999 mm
Height: 66.0 in / 1676 mm
Curb weight: 5630.61 lb / 2554 kg
Electric motor #1: 210 kW, 335 Nm, Location: Rear
Electric motor #2: 205 kW, 420 Nm, Location: Front
Battery: 100 kWh, Voltage: 400 V

2022 Tesla Model S

2022 Tesla Model S Plaid Tri Motor AWD

Doors: 4, Seats: 5
Length: 196.0 in / 4978 mm
Width: 77.3 in / 1963 mm
Height: 56.5 in / 1435 mm
Curb weight: 4940.56 lb / 2241 kg

2021 Tesla Model S

2021 Tesla Model S Performance

Doors: 4, Seats: 5
Length: 196.0 in / 4978 mm
Width: 77.3 in / 1963 mm
Height: 56.5 in / 1435 mm
Curb weight: 4940.56 lb / 2241 kg
Electric motor #1: 375 kW, 720 Nm, Location: Rear
Electric motor #2: 205 kW, 420 Nm, Location: Front
Battery: 100 kWh, Voltage: 400 V