Xiaomi, the Chinese tech giant, has made headlines recently with its plans to enter the electric vehicle market. According to reports, the company is set to debut its first electric sedan by the end of 2023.
In March 2021, Xiaomi announced the formation of a subsidiary to run its future smart electric vehicle business, with plans to invest a total of $10 billion in the venture over the next decade. The subsidiary, called Xiaomi EV Company Limited, has a starting capital of RMB 10 billion ($1.5 billion), with Xiaomi’s co-founder and chairman, Lei Jun, serving as its CEO.
This won’t be Xiaomi’s first foray into the electric vehicle market, however. The company launched its first electric vehicle, an electric scooter, back in 2016. Since then, it has been working on developing an EV car and is now gearing up to unveil the prototype of its first EV car by the end of August 2022.
The company’s first EV model is expected to launch in the first half of 2024, with another model following in each of the following three years. The company has not released many details about the upcoming sedan, but it is expected to feature Xiaomi’s signature technology and design elements.
An electric sedan is a type of four-door car that is powered by an electric motor rather than a traditional internal combustion engine. Electric sedans are designed to be efficient, eco-friendly, and often feature advanced technology and luxurious amenities.
One of the primary features of an electric sedan is its electric powertrain. This includes a battery pack, electric motor, and control systems that manage the flow of electricity between the battery and the motor. The electric motor converts electrical energy from the battery into mechanical energy, which powers the wheels of the car.
Overall, Xiaomi’s entry into the electric vehicle market is significant, given the company’s strong brand and reputation for innovative technology. As Xiaomi prepares to launch its first electric sedan, it will be interesting to see how the company fares in the highly competitive EV market.
In conclusion, Xiaomi is set to debut its first electric sedan by the end of 2023, with plans to invest $10 billion in its electric vehicle business over the next decade. The company has already launched an electric scooter and is gearing up to unveil the prototype of its first EV car by the end of August 2022. While details about the upcoming sedan are scarce, it is expected to feature Xiaomi’s signature technology and design elements.