Photo: Bogdan Popa/autoevolution
Technology companies are investing billions of dollars in their expansion in the automotive sector, and right now, Xiaomi seems to be the name spearheading this trend.
The company has already revealed that it wants its first vehicle to be on the road in 2024, but founder Lei Jun now claims he has even bigger ambitions.
Speaking at the latest investor meeting, Jun detailed Xiaomi’s automotive strategy, revealing that in the long term, the company wants to become a truly big car manufacturer.
How big? The answer is as aspiring as possible. Xiaomi sees itself as one of the world’s top five carmakers in the next 15 to 20 years, eventually challenging Toyota, Volkswagen, Ford, and General Motors for the leading spots in the automotive industry.
Xiaomi’s car project has made huge progress in the last couple of years, with over 2,300 people currently working on the development of the vehicle. The first tests started in late 2022, and this year, Xiaomi wants to pilot its technology on over 100 vehicles.
The first Xiaomi car should be produced in 2024, and to make sure customers out there would be able to discover it, the company wants to use the existing retail store network. As one of the largest phone makers in the world, Xiaomi has invested aggressively in a retail store presence, with over 10,000 locations opening their doors across China only in the last three years.
Jun acknowledges that the first steps the company will make in the automotive industry will be challenging, to say the least. He says the traditional carmakers in China are already nearly seven years ahead in terms of EV work, but given its focus on technology, Xiaomi should be able to catch up in record time.
This is precisely how Xiaomi wants to conquer the automotive world. With the focus on technology expanding at a fast pace, carmakers partner with tech companies for more advanced systems that would eventually be fitted on their vehicles. Xiaomi will be in charge of its own technology, and given it’s a leading phone maker with an established presence in this sector, bringing new systems to vehicles would be a more streamlined process.
Xiaomi believes the automotive industry can become a money-making business. Jun says cars would eventually become a service platform, and Xiaomi is well-positioned to benefit from this trend.
Unsurprisingly, this is Apple’s target as well. Project Titan, Apple’s very ambitious electric vehicle concept that’s currently being worked on behind closed doors at Cupertino, is also expected in the coming years, once again with an increased focus on technology and services that would allow Apple to rapidly gain market share in the automotive market. The Apple Car is projected to launch in 2025, at the earliest.
Speaking at the latest investor meeting, Jun detailed Xiaomi’s automotive strategy, revealing that in the long term, the company wants to become a truly big car manufacturer.
How big? The answer is as aspiring as possible. Xiaomi sees itself as one of the world’s top five carmakers in the next 15 to 20 years, eventually challenging Toyota, Volkswagen, Ford, and General Motors for the leading spots in the automotive industry.
Xiaomi’s car project has made huge progress in the last couple of years, with over 2,300 people currently working on the development of the vehicle. The first tests started in late 2022, and this year, Xiaomi wants to pilot its technology on over 100 vehicles.
The first Xiaomi car should be produced in 2024, and to make sure customers out there would be able to discover it, the company wants to use the existing retail store network. As one of the largest phone makers in the world, Xiaomi has invested aggressively in a retail store presence, with over 10,000 locations opening their doors across China only in the last three years.
Jun acknowledges that the first steps the company will make in the automotive industry will be challenging, to say the least. He says the traditional carmakers in China are already nearly seven years ahead in terms of EV work, but given its focus on technology, Xiaomi should be able to catch up in record time.
This is precisely how Xiaomi wants to conquer the automotive world. With the focus on technology expanding at a fast pace, carmakers partner with tech companies for more advanced systems that would eventually be fitted on their vehicles. Xiaomi will be in charge of its own technology, and given it’s a leading phone maker with an established presence in this sector, bringing new systems to vehicles would be a more streamlined process.
Xiaomi believes the automotive industry can become a money-making business. Jun says cars would eventually become a service platform, and Xiaomi is well-positioned to benefit from this trend.
Unsurprisingly, this is Apple’s target as well. Project Titan, Apple’s very ambitious electric vehicle concept that’s currently being worked on behind closed doors at Cupertino, is also expected in the coming years, once again with an increased focus on technology and services that would allow Apple to rapidly gain market share in the automotive market. The Apple Car is projected to launch in 2025, at the earliest.
Google News