Xiaomi Is Aiming To Promote 10 Million Electrical Vehicles Yearly

Chinese language know-how large Xiaomi has but to unveil its first electrical automobile however has formidable goals of creating itself as one of many world’s largest automobile producers.

Xiaomi Car was launched in September 2021 with $1.39 billion in funding and has been exhausting at work creating EVs within the 14 months since. Whereas the corporate has no prior expertise within the automotive business, Xiaomi founder Lei Jun not too long ago took to Twitter to state that Xiaomi hopes to promote greater than 10 million automobiles yearly.

“The manufacturing threshold of EVs has been dramatically lowered in comparison with gasoline automobiles: 30,000 elements are extremely modular, and the price of batteries has fallen by 80% up to now ten years (with at the least 50% extra room for price discount sooner or later),” Lei mentioned. “Subsequently, I feel EVs are a type of shopper electronics with intelligentization, software program, and consumer expertise on the core. The essence of the auto business will evolve from mechanics to shopper electronics, the place market share is very concentrated among the many prime gamers.”

Lei went on to say he thinks the world’s prime 5 manufacturers will maintain greater than 80 per cent of EV market share when the business reaches maturity.

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“In different phrases, the one approach for us to succeed is to be one of many prime 5 and ship greater than 10 million automobiles yearly. The competitors will likely be brutal,” he mentioned.

To place that determine into perspective, the world’s two present largest automobile producers, Toyota and the Volkswagen Group, every promote round 10 million automobiles yearly. Xiaomi’s founder clearly thinks fairly equally to Tesla’s Elon Musk who has mentioned his model might produce as much as 20 million automobiles yearly in 10 years.

In September, it was reported that Xiaomi had completed constructing the primary engineering prototype of its first EV that’s deliberate for a launch in 2024. Only a few particulars in regards to the automobile are recognized but it surely could possibly be supplied with 400-volt and 800-volt architectures and supplied with BYD’s Blade-style battery cells and CATL’s Kirin battery.