Xiaomi Is Seeking Partners in the Development of an Electric Car
Xiaomi Is Seeking Partners in the Development of an Electric Car
Xiaomi announced in March that it would undergo significant transformations in the near future. Lei Jun stated that the company is brimming with enthusiasm, drive, and determination to master a new endeavor. It will be a first for it to see the release of an electric vehicle. This project will be notable for the fact that it will be personally led by Lei Jun and that it will be the last in the career of the Xiaomi CEO, after which he intends to step down from his position as CEO.
Putting one's self on new rails and beginning to manufacture sophisticated and technologically advanced gadgets on wheels is no small undertaking. It is particularly difficult for those who are just starting out in order to carve out a new niche for themselves or experiment in a new field and do not yet have the necessary production infrastructure in place. It will be much more difficult and time-consuming to complete this task without the assistance of a partner who specializes in automobile design.
Thus, it should come as no surprise that Xiaomi is looking for someone who will take over the production of an electric vehicle from the company. The company's president, Lei Jun, recently paid a visit to the headquarters of the Chinese automaker FAW Group.. Read more. His visit coincides with the fact that the company is on the lookout for someone who can assist it in the development of an electric vehicle.
In Order To Aid In the Production of an Electric Car, Xiaomi Is Seeking Assistance from Someone
The FAW Group, which has its own research centers and assembly plants and is involved in the development of automobiles of various classes, produces several million automobiles per day. Xiaomi's collaboration with the FAW Group has the potential to benefit both companies, provided that both parties are in agreement on the terms of the collaboration.
Unusually for a Chinese automaker, Lei Jun had previously visited Great Wall Motor. It appears that for the time being, the company is only interested in potential partners who can assist it in the development of an electric vehicle. We already know that Xiaomi will release its first automobile in 2024 and that the company expects to sell at least 900,000 automobiles within three years.
Xiaomi, the Chinese technology behemoth best known for its popular smartphones, has recently announced the formation of a new company that will manufacture electric automobiles. According to the division's founders, the division has already entered a "phase of significant growth and expansion."
Lastly
In addition, the company was given the name Xiaomi EV, Inc., and its registered capital was set at $ 1.55 billion dollars. In March, the parent company announced its intention to invest $ 10 billion in the production of electric vehicles over the next ten years, with the money coming from existing cash reserves.
A Xiaomi representative stated that 300 people are currently employed by the branch. Lei Jun, the company's direct founder and chief executive officer, will be in charge of the new division.
