Xiaomi says no electric car launch for now - but things may change in the future

Mi headquarters
(Image credit: Xiaomi)

Chinese technology company Xiaomi is primarily known for making affordable smartphones. However, it also makes a lot of other products that help create an ecosystem of products that are made either directly by Xiaomi itself or one of its umbrella companies.

Some recent reports have suggested that Xiaomi, like Apple, is interested in coming up with its electric car. It was reported that the decision to build Xiaomi’s first electric vehicle was taken after years of considerations and the project was rumoured to be led by Xiaomi’s founder and CEO Lei Jun himself.

However, earlier today, Xiaomi quashed all these reports and in a prepared statement suggested that the company is not looking to get into EVs immediately. The media statement revealed that while the company has evaluated the market and has conducted research on relevant industry trends, it prefers to wait as of now till the market is more favourable.

Though the company has not ruled out the scope of making an EV shortly since the media statement does not deny its EV plans nor did it say that the company has never tried its hands at making a battery-operated car.

To recall, Xiaomi isn’t new to battery-operated vehicles. The company launches various self-balancing electric scooters and other small electric vehicles under one of its umbrella company, Ninebot. The company has, since 2014, made strategic investments in companies that have some connection with electric vehicles in general.

That being said, Xiaomi isn’t the only tech company interested in making electric cars and neither it’s the first Chinese company to have dreams of launching one. In the past LeEco, the company that wanted to expand into way too many directions at the same time showcased its electric car, LeSee Pro and had even taken over Faraday Future, a US-based EV startup. However, LeEco crumbled under the weight of its founders’ overtly aggressive plans and the car never saw the light of the day.

Huawei though has stayed away from making cars itself already has a smart car OS and also makes chips to power these cars. Apple on the other hand has been in talks with various car makers across the globe and is looking to give stiff competition to Tesla.

Similarly, Foxconn has plans to launch an open hardware and software platform to help carmakers to speed up their Electric car plans. Hence with the market getting conducive for electric vehicles, Xiaomi might not be announcing the plan right now, however, it is only about time that the company reveals its vision around electric vehicles.

Via- GizmoChina

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Jitendra Soni

Jitendra has been working in the Internet Industry for the last 7 years now and has written about a wide range of topics including gadgets, smartphones, reviews, games, software, apps, deep tech, AI, and consumer electronics.