[RahulNagaraj]

Xiaomi Corporation has officially confirmed its entry into the global automotive segment. The Chinese smartphone maker recently announced that they will be entering the smart electric vehicle business. The new business will be a wholly-owned subsidiary of the Xiaomi Group.



This announcement was made to its shareholders and other potential investors as a new business development. Xiaomi stated that they will make an initial investment of RMB 10 billion (equivalent to US$ 1.52 billion). The total investment, however, will amount to US$ 10 billion over the next 10 years .

The company also announced that Mr Lei Jun, Chief Executive Officer of Xiaomi Group, will concurrently serve as the CEO of the new electric vehicle business.

Xiaomi has also stated that it aims to bring in quality smart electric vehicles across the world, allowing people to enjoy ‘smart living’ anytime, anywhere.

Link to Team-BHP news

[Dry Ice]

Nice, quite a big leap from 2 wheels (https://www.mi.com/us/mi-electric-scooter) to 4.

It will be interesting to see who they copy though, Tesla or Apple?

[kamilharis]

Ah! So finally the poor man's Apple is here.

Like they do with smartphones & other gadgets, I hope they can give us a flagship EV similar to Tesla, say at 60-70% cost.

[VKumar]

So, now cars will also have the passengers feeling the heat of the battery?

I remember a friend telling me once, "Take MI phone to Leh, if you feel cold, just start operating the phone"!

[myavu]

New age Mi phones can give the respective segments a run for their money.

This is a great news. Affordable EVs are on the way.

Cheers!

[S15]

Other cars: Start stop tech. When you are at red light, car will shut its engine to save fuel.

Xiaomi: Start-stop-ad tech. When you are at red light, car will shut its engine, switch on the touchscreen ICE, and play an advertisement.

Though this is one company that will not face semi-conductor shortage. No head unit? No issues, just fit in a 6.5 inches Remi Note 10.

[RavSam]

Fan of Xiaomi products! True vfm stuff.

Waiting for their car variants

Base model A
Prime
Power
Pro
Pro Max
Pro Max Ultra

[Nikhil Beke]

Having faced the ordeal of visiting one of their service centres for repair of a smartphone of theirs, I must say that Tata/ Skoda ASSs are going to face some stiff competition
Also, also think they would have updates every week( as opposed to once every 6months), so Hyundai et al are also going to face the heat

[Sankar]

Hope the car doesn't come loaded with bloatware

Seriously, good news indeed! Hope they make it in India like MG.

[CrAzY dRiVeR]

Lot many jokes, but the real joke is on us! Xiaomi is the #1 smartphone seller in India by volume (26%). Source.

The Apple cars and Tesla 3s of the world won't be affordable to the upper middle-class Indian, anytime soon. Our best bet would be TATA and Mahindra - but to force them to compete for each sale - there need to be mass-market players like Xiaomi, MG etc in the market.

India is currently one of the biggest global markets for this company - so we could be one of the first to receive this EV as well.

[TorqueIndia]

EV space looks like an opportunity for every company with good R&D and management. I'm glad that more players are coming day by day, each day lost by any established players will be a huge lose.

If Xiaomi, Sony , OLA, Aravind, Pravaig and Jayem can do it then what's stopping Toyota and Suzuki? Sheer arrogance!

[Nikhil Beke]

If Xiaomi, Sony , OLA, Aravind, Pravaig and Jayem can do it then what's stopping Toyota and Suzuki? Sheer arrogance!

IMHO, they haven't 'done' anything as yet, apart from declaring the intent and a crude roadmap. In terms of latter, Faraday Future is close at the heels of Tesla, and is yet to deliver a successful product, AFAIK. Mahindra had already squandered the early- mover advantage, which they had with aquisition of Reva.
Point being, Suzuki/Toyota may not be too far behind, and they are just not adequately convinced.

[saikarthik]

It's good that Xiaomi enters EV space. It's sheer volume (assuming past success in different sectors), will help bring down the cost of batteries and other common parts world wide. Also, gets the competition in check with it's pricing.

Only thing that will be worrisome is that already there is a stir going on with all the "Cybersecurity" issues in connected cars (assuming OTA as standard). It will be interesting to watch how the governments worldwide react to a Chinese brand, when people are debating about how secure are connected cars both ways - Safety of passengers, security for personal/on road data.

[abhijet.sen]

Given that Tesla is now in China, I won't be surprised that Xiaomi and for that matter lots of other Chinese digital companies announce that they will enter EV space. Industrial scale stealing of technologies save huge cost that in spent by mainstream companies in R&D. Those cost go on to subsidize new products. Moreover, when such products are created in mass scale, it further brings down the cost.

Unlike what JLR did to win case in Chinese court against a Chinese company, most companies don't even think about it as in most cases it is hopeless.

Xiaomi may be selling well because of its price and value, however, Samsung/Apple spend far too much in R&D. Apple is thinking twice about EV as it knows the challenges. While Xiaomi, which is indirectly related to Chinese Govt. will get majority of technologies in gift.

Given that EVs are future, China will try a lot to capture that market the way it tried to become factory of the world.

[Reinhard]

Given my great experience with MI phones (rooted of course ) - I find this news fantastic! I hope the cars actually come - and make a Samsung out of incumbents like Tesla etc.

Given how impressed I have been with their devices not just limited to phones - I might even wait it out for a good car from them, before taking the plunge to my 1st EV. (Alas they are Chinese of course and my outright optimism would be frowned upon here...)