The Chinese Xiaomi wants to market its first electric car within two years. In this way, the company wants to diversify its income.
Xiaomi mainly makes smartphones and wearables but also wants to enter the car market soon.
The plans are not yet formal, but according to multiple sources from Reuters, the smartphone manufacturer will release its own electric car from 2023. It would be produced in a Great Wall Motor factory, a large Chinese car manufacturer that mainly makes pickup trucks.
Xiaomi is best known as a smartphone maker, but the margins in that sector are very thin. The collaboration is also in line with the trend in which car manufacturers and technology companies seek rapprochement to launch smart electric vehicles. It is not yet clear whether the cars will also be for sale outside of China.
Both companies do not respond to Reuters’ news, but plans were to be formally announced next week.
