According to a source close to Reuters, Xiaomi wants to launch its first EV by 2023, which will predictably be able to connect with other devices in the company’s product ecosystem, such as its smartphones.
Targeted by US sanctions and largely dependent on smartphone sales, the Chinese firm may be looking to diversify its sources of income. It’s been hurt by the global chip shortage and recently announced quarterly revenue below market expectations.
Also, EVs are the hottest thing right now – search giant Baidu recently formed a joint venture company with automaker Geely to produce “intelligent” EVs with autonomous driving technology. Their planned launch date is roughly around the same time – about three years from now.
Another Reuters source said both Xiaomi and GWM intend to unveil their partnership as soon as early next week.