Photo: Bogdan Popa/autoevolution/Xiaomi
The fierce competition in the automotive space should soon include big names from the technology world, as Apple and Xiaomi are already working on vehicles projected to launch later this decade.
The latter is likely to enter the car battle as soon as next year, with the official unveiling due in the first half of 2024.
Reliable tech analyst Ming-Chi Kuo recently released an investor note that includes several juicy tidbits about the Xiaomi Car. Kuo says Xiaomi sees the existing climate in the automotive space as the perfect opportunity to launch a car, especially in China's EV market, where Huawei paved the way for significant growth.
As a result, Xiaomi's timing is just perfect, so the company planned its automotive strategy correctly, at least for a successful debut in the domestic market.
The Xiaomi Car production is projected to begin early next year, and Kuo explains that the Chinese tech giant was to make between 50,000 and 60,000 vehicles in 2024. The figure is much lower than the original estimates, as people close to the matter said Xiaomi aimed for a 2024 output of 100,000 units. The figure was projected to double in 2025 when Xiaomi wanted at least 200,000 cars to roll off its new factory in Beijing.
Kuo did not share any specifics on Xiaomi's long-term output targets, but the analyst claims the technology behemoth wants to create a strong connection between the smartphone and automotive products. The company wants cars and phones to work together seamlessly, possibly as it plans features to transition between the two screens when getting in and out of the car.
Not long ago, it was discovered that Xiaomi also plans to offer Apple CarPlay support in its first vehicle. However, the company will double with an in-house product offering deeper vehicle integration, hoping drivers wouldn't feel the need for CarPlay. Additionally, the integration would serve as an incentive for potential Xiaomi Car buyers to purchase a Xiaomi phone.
Kuo claims Xiaomi also wants to launch the Xiaomi car in overseas markets, with the analyst explaining that the company's international presence paves the way for this ambitious goal.
One interesting tidbit in Kuo's investor note concerns the car's selling price. The analyst claims the vehicle should launch with a price tag below 300k yuan (approximately $41,000 at today's currency rates). However, Xiaomi is also targeting a 250k yuan (around $34,000) price tag, making the vehicle extremely competitive from a pricing perspective. If the EV becomes so affordable, Xiaomi could substantially increase the production target for 2024, the analyst says.
Apple's Car isn't expected until 2026, at the earliest, as Kuo says the iPhone maker has reduced the focus on the vehicle, pushing behind the initial 2025 release target.
Reliable tech analyst Ming-Chi Kuo recently released an investor note that includes several juicy tidbits about the Xiaomi Car. Kuo says Xiaomi sees the existing climate in the automotive space as the perfect opportunity to launch a car, especially in China's EV market, where Huawei paved the way for significant growth.
As a result, Xiaomi's timing is just perfect, so the company planned its automotive strategy correctly, at least for a successful debut in the domestic market.
The Xiaomi Car production is projected to begin early next year, and Kuo explains that the Chinese tech giant was to make between 50,000 and 60,000 vehicles in 2024. The figure is much lower than the original estimates, as people close to the matter said Xiaomi aimed for a 2024 output of 100,000 units. The figure was projected to double in 2025 when Xiaomi wanted at least 200,000 cars to roll off its new factory in Beijing.
Kuo did not share any specifics on Xiaomi's long-term output targets, but the analyst claims the technology behemoth wants to create a strong connection between the smartphone and automotive products. The company wants cars and phones to work together seamlessly, possibly as it plans features to transition between the two screens when getting in and out of the car.
Not long ago, it was discovered that Xiaomi also plans to offer Apple CarPlay support in its first vehicle. However, the company will double with an in-house product offering deeper vehicle integration, hoping drivers wouldn't feel the need for CarPlay. Additionally, the integration would serve as an incentive for potential Xiaomi Car buyers to purchase a Xiaomi phone.
Kuo claims Xiaomi also wants to launch the Xiaomi car in overseas markets, with the analyst explaining that the company's international presence paves the way for this ambitious goal.
One interesting tidbit in Kuo's investor note concerns the car's selling price. The analyst claims the vehicle should launch with a price tag below 300k yuan (approximately $41,000 at today's currency rates). However, Xiaomi is also targeting a 250k yuan (around $34,000) price tag, making the vehicle extremely competitive from a pricing perspective. If the EV becomes so affordable, Xiaomi could substantially increase the production target for 2024, the analyst says.
Apple's Car isn't expected until 2026, at the earliest, as Kuo says the iPhone maker has reduced the focus on the vehicle, pushing behind the initial 2025 release target.
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