Xiaomi officially registers its electric vehicle business


Xiaomi logo

The Chinese tech giant Xiaomi, best known for its popular smartphones, has officially registered a company that will produce electric vehicles. According to the founders, the division has already entered a “significant phase of development”.

The company received the name Xiaomi EV, Inc., the registered capital is $ 1.55 billion. In March, the parent company announced its intention to invest $ 10 billion in the production of electric vehicles over the next ten years.

According to Xiaomi representatives, the branch already employs 300 employees; and the new division is headed by the direct founder and head of Xiaomi – Lei Jun.

According to Xiaomi, in the past five months, the new division has already conducted extensive research on the user audience and made contacts with partners in the industry. True, the new business is still not ready to present any electric vehicle or its prototype.

Earlier this month, Xiaomi announced a $ 77.37 million purchase of Deepmotion, an autonomous driving company “to enhance the technological competitiveness” of the EV business.

Xiaomi, in addition to smartphones known for all sorts of IoT devices, will have to work hard to win a niche in the Chinese electric vehicle market. There are already local giants like Nio and Xpeng, as well as world-renowned companies like Tesla and China’s BYD; which has the support of the financial tycoon Warren Buffett.

Xiaomi car

Tesla has sold over a million Model 3, the world’s most popular electric car

The total sales of the Tesla Model 3 electric vehicle have reached an important milestone. According to the results of the second quarter, for the entire existence of this model, 1,031,588 cars were delivered; more than any other brand of electric vehicles.

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Although the figures are not official statistics, reports bring a summary of sales over the years. In the second quarter of 2021 alone, about 225,000 Model 3 copies were sold; according to some estimates, the millionth mark was passed in June of this year.

Meanwhile, total sales of Tesla Model Y have passed the 250,000 mark. According to experts’ forecasts, by the end of the year the car will overcome the mark of 500,000 copies. As for the Model S and Model X; the total volume of deliveries each at the end of the quarter exceeded 200,000 vehicles.

Also, we know that in December 2020, the total sales of Nissan LEAF reached 500,000 electric vehicles; it seems that this is the only serious competitor to Model 3. So far, in addition to the latest model, the main competitors and contenders to overcome the millionth threshold in the future are only Nissan LEAF and Model Y of Tesla itself. Data on other competitors with comparable sales potential are not yet available.

Source/VIA :
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