Electric Cars

Xiaomi plans to make electric cars

In recent news, it has been reported that Xiaomi plans to produce electric cars which are targeted at the ‘mass market’. Much details in regards to this plan have not been disclosed, but Xiaomi would reportedly integrate them with other products and manufacture them at a plant from Chinese auto giant Great Wall. The first model would arrive in 2023.

Its quite clear that with Apple gunning for the EV section, Xiaomi is placing itself in the same race. Moreover, through this Xiaomi could diversify its lineup hence making the company more resilient. While it’s one of the largest phone brands in China, it operates on tiny profit margins and can easily succumb to short-term problems like recent chip shortages. EVs would give Xiaomi a more reliable source of income year-round.

However, apart from just Apple, Huawei is said to be exploring the automobile market as well. A company based in China called Baidu has already unveiled plans to make an EV with Geely’s help. Tech firms delving into the automotive world may seem like novelties now, but they could be relatively commonplace in a few years.

In a nutshell, Xiaomi believes that by adding eco-friendly automobiles into their arsenal they can attract more customers and enthusiasts into considering their products. However, the EV section of the automobile industry will solely depend upon a customer’s brand loyalty and respective preferences.

Source: Engadget

Sponsored
Usman Aslam

A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Usman has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years including many notable names such as IEEE Region 10, TEDx, Google Developers, United Nations Programmes, Microsoft Partner Program and much more. Reach out: usman.aslam@techjuice.pk

Leave a Comment
Share
Published by
Usman Aslam

Recent Posts

Khyber Pakhtunkhwa Govt Ready to Acquire PIA with Bid Exceeding Rs10bn

The Khyber Pakhtunkhwa (KP) government has officially informed the federal government of its intention to…

25 mins ago

PTA Cautions Public on Illegal and Unlicensed Forex Trading Platforms

The Pakistan Telecommunication Authority (PTA) has issued a stern advisory, warning citizens against investing in…

25 mins ago

Record Emigration: Economic Instability Forces Pakistan’s Best and Brightest to Depart

Economic challenges are prompting skilled workers to leave Pakistan, resulting in a significant talent drain…

3 hours ago

Russia’s Fine on Google Exceeds World’s Economy

A Russian court has fined Google for blocking state-run media channels on YouTube, imposing a…

22 hours ago

No More Address Restrictions for Passport Issuance

ISLAMABAD: Passport applications no longer need to be submitted at the district office matching the…

23 hours ago

FBR Confirms No Further Extensions for Income Tax Return Deadline

The Federal Board of Revenue has decided that there will be no more extensions to…

1 day ago