Soon after the Chinese tech giant Huawei announced that it is partnering up with Hicar & BAIC to develop a Smart Car, reports about Xiaomi planning to enter the market started surfacing on the internet.
According to a report by the iFengNews, Xiaomi is working on building its own car. The report reveals that many individuals familiar with the matter have confirmed Xiaomi’s plans. However, since there are many variables involved in the process, nothing is set in stone yet.
As far as the project leadership is concerned, Xiaomi’s current CEO, Lei Jun, will be directly heading it. This is not the first time the Chinese Smartphone OEM displayed an interest in the automobile industry.
In 2013 Lei Jun had visited the US twice to meet with Tesla CEO Elon Musk. A few years after that, in 2019, the company collaborated with Bestune and launched a Redmi branded Bestune T77 SUV that came with the Mi AI Speaker and the XiaoAI assistant. The car was sold via Xiaomi’s Youpin platform.
It looks like the company’s interest in the auto industry has grown due to the current stagnation that the smartphone market faces where the electric smart vehicle market has been seeing a rise in popularity.