Back in March 2021, we reported that Xiaomi will be developing an electric car of their own. With a plan to diversify its revenue by offering products beyond consumer electronics, Xiaomi wants to make bigger profits in the long run.
Today, the Chinese tech giant has announced that they are set to unveil an EV prototype this August. We suspected that they will be working with Great Wall, another Chinese car maker, but it looks like the prototype was designed by Shanghai HVST Automobile Design. These were the designers behind the WM Motor Maven concept. Though there is no final look yet, we may get some Maven cues and styling.
According to a report by Sina Tech, Xiaomi is scheduling the unveiling next month but production of their electric vehicle will come in 2024. It still remains unclear if the concept unit will be the actual production model. According to another report by CNEV Post, the engineering prototype has started to undergo testing. Winter weather tests were also included to focus on the EV’s battery drain.
The WM Motor Mavent concept could become the basis of Xiaomi's EV
Xiaomi has invested $1.54 billion USD (8.67 billion PHP) in the prototype and then another $10 billion (563 billion PHP) over the next 10 years. The newly-formed Xiaomi Auto Co Ltd. company will have a capacity to produce 300,000 EV units annually.
The development and research team has grown to more than 1,000 people and will continue to expand as Xiaomi wants to incorporate the electric vehicle into its ecosystem. With seamless integration, the Chinese tech company wants their vehicle to have pairing capability with their smartphone OS to allow customers to control certain features. Xiaomi has already shown that they can do this with their E-Scooter range.
Xiaomi is following in the footsteps of Apple which is also working on its own electric vehicle. But with August just around the corner, it looks like they are ready with their prototype and we are excited. The electrification of the car industry has tech conglomerates working on various aspects of vehicle manufacturing and this is a good thing.