Xiaomi EV is building two prototypes, first model priced between $37,900 and $43,800: report

Xiaomi is working on two electric car models, according to Chinese media LatePost. The first model, code-named Modena, is a mid-size fastback sedan that will be available in two versions. The first version, priced between RMB 260,000 and RMB 300,000 ($37,900 and $43,800), will be built on a mainstream 400-volt electric architecture using a lithium iron phosphate battery from BYD, with a combination of five millimeter-wave radars and a camera for autonomous driving. The second version, starting at a price of RMB 350,000 ($51,000), will be built on an 800-volt architecture using the Qilin battery from CATL. Both versions will use Qualcomm’s Snapdragon 8295 chip. This model might be revealed to the public as early as the end of this year, the report said. The second model, code-named Le mans, will use similar architecture and will be launched in 2025. The smartphone maker had announced plans to invest $10 billion in the electric car business in March 2021 and is expected to mass produce its first model in 2024. [LatePost, in Chinese]