Xiaomi has hired Yu Liguo, a former senior executive at state-owned automaker BAIC Motor, to lead its autonomous electric vehicle project.
Autonomous driving technologies are the most crucial part of intelligent and electric vehicles, president Wang said.
Leading automakers have been embracing high-voltage battery systems, a technology and a longer driving range.
Xiaomi is the world’s second-largest smartphone maker by market share; its entry into the growing EV market may bring new competition to Nio, Xpeng, and Li Auto.
The cell phone maker known as ‘the Apple of China’ has backed EV companies Nio and Xpeng. Its entry is expected to shake up China’s car market.
The world’s fourth-biggest phone maker Xiaomi now pledges to develop high-quality EVs with a ‘best-in-class’ connected device ecosystem.
Nio’s pursuit of making smartphones comes as other Chinese tech companies are making plans to build EVs, looking to profit in the world’s biggest auto market embracing EVs.
Xpeng manufacturing partner Haima Auto is ready to follow Chinese biggest carmaker SAIC into the Indian market
Many players in China’s once-thriving EV battlefield face a struggle to convince new investors to come on board.
There could be more consequences to come as Nio is in advanced plans to enter the competitive mass auto market.