[차이나 모빌리티] Xiaomi’Mika’ released… China’s electric vehicle market disruption forecast

Input 2021.02.22 12:11

As Chinese smartphone maker Xiaomi is reportedly preparing to enter the electric car manufacturing business, interest in the possibility of reorganizing the electric car market in China is growing. Prior to Xiaomi, Chinese internet technology company Baidu also recently announced its entry into the electric vehicle manufacturing industry. Amid the explosive growth of the Chinese electric vehicle market, cooperation and competition between traditional automobile companies and big tech are intensifying.

On the evening of the 21st, Xiaomi announced through an announcement in the name of the founder Leijun CEO, “Xiaomi has been interested in the development of the electric vehicle ecosystem and has continued to evaluate and research the related industry posture.” Still, he said, “The research on electric vehicle manufacturing business has not yet reached the formal design stage.” As the rumors to enter the electric vehicle business spread, he drew a line saying,’It is under review, but it is not in the official entry stage.

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Earlier on the 19th, Chinese media Wandian quoted a source and reported that “Xiaomi decided to make the electric car herself after years of review.” According to reports, Xiaomi launched an electric vehicle project called “Micar” in 2018. Wandian said, “The Xiaomi electric vehicle project is still in the early stages of planning, and it may change.”

Leijun has shown constant interest in the electric vehicle market. In 2013, I visited and met Elon Musk, founder of Tesla, an American electric vehicle manufacturer. In 2015, he invested in Chinese electric vehicle startup Nio through Sunway Capital, an investment company he founded. In 2019, Xiaomi also led a $400 million investment in another Chinese electric vehicle startup, Xiaofeng Motors.

The Chinese electric vehicle market is showing signs of upheaval. Recently, Baidu, the No. 1 search engine company in China, also announced its entry into the electric vehicle manufacturing industry. Baidu decided to work with Geely to produce electric vehicles.

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