Xiaomi could launch its own car in the coming years. This is reported by the Chinese edition Donews.
Several sources in the corporation said that Xiaomi top managers are exploring the possibility of entering the automotive market. Insiders noted that the corporation does not yet have a clear plan for creating its own car, but more detailed information about the project may appear in the near future.
Also informed sources noted that the project will be overseen directly by the founder of the company, Lei Jun. Reporters contacted a Xiaomi representative for a comment and received a message that the company will respond to the request later.
Another source close to Xiaomi's top management said that he had heard about such plans, but stressed that the corporation was not interested in introducing the car in the coming years. The interlocutor noted that the company has a strong share in the smartphone market, so the task of developing this segment is a priority. The source also noted that Xiaomi does not have its own developments in the field of unmanned technologies, like its competitors, for example, the Chinese company Baidu.
Also, in a private conversation with reporters, the insider said that the complexity of creating an electric car or any similar car by a non-core company is extremely high, and the production process is different from the process of creating smartphones. At the same time, the interlocutor admitted the possibility of Xiaomi entering a new market, however, the appearance of the first car, given the start of its development in 2021, should be expected no earlier than 2025.
Investors appreciated the news about the interest of the Chinese corporation in the automotive market. Before the close of the session on the Hong Kong Stock Exchange, Xiaomi shares rose 6.424 percent, reaching HK $ 30.65 per share.
Earlier it became known that Hyundai and Nissan, which were negotiating with Apple on the creation of an electric car, refused to cooperate with the American company. Rumors that Apple might enter the automotive market emerged in late 2020.
