Xiaomi sets its sights on becoming a global giant in the electric car industry
As electric vehicles gradually replace conventional cars, the key players in the industry might be poised for change.
The automobile industry is witnessing a significant transformation, moving from fossil fuel-powered cars to electric vehicles. This change has opened the door for newcomers like Xiaomi to challenge traditional automakers like Volkswagen. Xiaomi, primarily known for smartphones, has been quietly developing an electric vehicle (EV) that is expected to debut soon. The intriguing part of their strategy involves utilizing self-developed chips and a unique vehicle system architecture in their first car.
Xiaomi's automobile efforts are managed through a subsidiary called Xiaomi Motors. This entity has been devoted to exploring and developing EV technologies. The current buzz suggests Xiaomi's impending EV will house proprietary chips and a bespoke vehicle system architecture. These in-house developments could grant Xiaomi Motors greater control over the design and performance of their vehicles, potentially improving performance, safety, and cost-efficiency.
Xiaomi sets its sights on becoming a global giant in the electric car industry
Notably, Xiaomi has already shown substantial interest in the automotive sector. The company invested in Black Sesame Technologies, an autonomous driving computing chip company, in June 2021. Their investments span several other companies specializing in power batteries and autonomous driving. This strategic investment pattern aligns with their rumored plan to adopt proprietary chips and unique vehicle system architecture for their EVs.
Further enhancing their customer experience, Xiaomi Motors is said to be planning to establish its own delivery centers. These centers would give the company better control over the customer journey, ensuring a seamless ownership experience. With the amalgamation of self-developed chips, a unique vehicle system architecture, and dedicated delivery centers, Xiaomi Motors is setting itself up to make a significant impact on the EV market. It will be interesting to see how it holds up against established players like Tesla and BYD, and newcomers like NIO and Li Auto.
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