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Deepti Sri · · 1 min readSources: Xiaomi plans to make EVs with car manufacturer tie-up
“China’s Xiaomi Corp plans to make electric vehicles using Great Wall Motor Co Ltd.’s factory,” reported Reuters, citing three people in the know.
Details:
- Xiaomi will launch its electric vehicles around 2023 and will target the mass market, which is in line with the positioning of its products, according to two sources.
- Great Wall, a Chinese automobile manufacturer, may announce its partnership with Xiaomi to offer engineering consultancy services as early as next week.
Context:
- Xiaomi recorded a 37% jump in its quarterly profit, making the most out of Huawei Technologies’ retreat to consolidate its lead in the market.
- This partnership comes as automakers look to develop smarter vehicles with technology such as smart cabins and autonomous driving.
Editing by Collin Furtado and Jaclyn Tiu
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