Autonomous driving technologies are the most crucial part of intelligent and electric vehicles, president Wang said.
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.
Xiaomi is pouring billions of RMB into the auto sector and placing some big bets on multiple startups to build a complete auto supply chain.
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.
There could be more consequences to come as Nio is in advanced plans to enter the competitive mass auto market.
While Chinese companies won’t be the first to deliver road-ready lidar systems, they could be the first to do it at a practical price.