One of the largest Chinese smartphone manufacturer, Xiaomi, has recently confirmed plans to release its own electric car, which will compete with Tesla models. Now new details about the project have become clear: they intend to produce cars at the Great Wall plant. They will go on sale in 2023.
According to Reuters, citing its own sources, Xiaomi electric cars will be produced by Great Wall at one of the Chinese factories, and the company’s partnership will be officially announced in early April. It is expected that the Xiaomi model lineup will include relatively inexpensive electric cars, the advantage of which will be advanced on-board electronics.
Amid news of Xiaomi’s plans to build electric vehicles at the Great Wall plant, shares in both companies are up 10 percent.
Great Wall is already producing electric cars in China under the Ora brand. The most popular among the Chinese is the 3.5-meter R1 hatchback, equipped with a 48-horsepower electric motor. Such an electric car can be purchased for about 73 thousand yuan ($ 11,160). Ora is also represented by the Ora iQ cross-liftback and the Ora R2 five-door, which debuted in 2020.
In addition, Great Wall plans to launch production of MINI electric cars by 2023. They will be assembled at the Great Wall-BMW joint venture. 160 thousand cars will roll off the assembly line annually, and not only MINI, but also BMW.
Xiaomi is not the only Chinese smartphone maker looking to dive into the automotive business. Earlier it was reported that Huawei is negotiating a partnership with Changan, and Apple is looking for helpers to work on the iCar project.