Xiaomi had made the big announcement of entering the electric vehicle segment in the month of September. Now a new report has surfaced, indicating that Xiaomi plans to produce 3 lakh units of EVs annually from its new plant that will be based in Beijing. The plans of the new EV plant have been surfaced by the Chinese government. Also Read - Tork Kratos electric motorcycle with 180 km IDC range launched in India with promised top speed of 105 kmph
The details of the plant were revealed by the Chinese government, according to a report by GizmoChina. The Chinese government claims that the new plant will be built in two phases. The EV market is expected to boom in the coming years and Xiaomi wants to be ready with the volumes when it happens. Also Read - Xiaomi India’s market share dropped by 8 percent in 2 years, reports show
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Xiaomi’s EV business will be looked after by none other than the company’s CEO, Lei Jun. The Chinese business tycoon announced that the new venture will be his last new entrepreneurial project with the company. Xiaomi has already invested $1.5 billion in the venture from the start.
The Chinese smartphone manufacturer is following a trajectory similar to some other tech giants such as Apple, Oppo and Huawei. Xiaomi plans to invest $10 Billion into the facility in the next 10 years and it plans to beat other manufacturers in the EV race by starting operations of the new facility by 2024.
Apple Electric Car also in works
Apple is planning to swoop into the EV sector as well with the launch of its first electric car. The company earlier planned a launch window of five to seven years but a recent shuffle in management indicates that Apple wants to launch its EV as early as 2025. If the American company goes through with the revised deadline, it might be able to beat other tech companies that are eyeing a big chunk of the automotive industry.
Apple is planning to launch an electric car with features beyond what Tesla offers with its current cars. It is planning to launch a car that can self-drive completely. Few reports also suggested that Apple has plans to skip the steering wheel and pedals. However, the company is yet to finalize any details about the omission. In case, Apple does remove these, the car might get an emergency take over mode.