Ready To Compete With Tesla, Xiaomi Soon To Produce Electric Cars

JAKARTA – The entry of Xiaomi in the future electric car industry is increasingly enlivening the electric vehicle (EV) competition which is currently dominated by Tesla. Xiaomi itself said the company was in the stage of substantial development.

Xiaomi has established a line of companies namely Xiaomi EV, Inc. to produce electric cars. Xiaomi EV was founded with a registered capital of 10 billion yuan or around Rp. 22 trillion. The Xiaomi subsidiary is rumored to have around 300 employees headed by Xiaomi founder Lei Jun, as reported by CNBC International on Wednesday, September 1, 2021.

Xiaomi said that the electric car design team had "conducted a large amount of user research" in the last 5 months. In addition, Xiaomi is also reported to have collaborated in the electric car industry to strengthen the company's ecosystem.

In March, Xiaomi announced to launch its electric car with an investment of 10 billion US dollars for the next 10 years. Meanwhile, in September, Xiaomi announced that it had acquired an electric car manufacturer called Deep Motion for US$77.37 million, or around Rp. 1 trillion.

Xiaomi's acquisition of autonomous electric car manufacturer Deep Motion is aimed at increasing technological competitiveness in the electric vehicle industry. With this acquisition, it is hoped that Xiaomi can bring self-driving features in Xiaomi electric cars in the future.

The presence of Xiaomi in the future electric car competition, seems to threaten the dominance of electric car manufacturers that are currently popular such as Tesla, Nio, Xpeng, Huawei and Baidu. Coupled with Apple's plans to bring the AppleCar electric car in the near future.