Xiaomi has only been around for eleven years. But in that time, the company has developed into the third largest spartphone builder in the world. In addition, Xiaomi produces numerous other electronic gadgets, including surveillance cameras, smart watches and electric scooters. In 2017, Xiaomi announced that it was investing in the new EV builder Xpeng. Xiaomi has thus been sniffing the mobility industry for some time. Last year Xiaomi even introduced a fun electric kart.
For years, reports have been circulating about Apple that it is working on its own, self-driving electric car. It was recently rumored that Apple was going to work closely with Hyundai and Kia to this end. However, the car manufacturer quickly quelled this story.
Cooperation Xiaomi and Great Wall
So the state of Apple’s car plans remains a bit vague. Sources within Xiaomi, on the other hand, have indicated to the US news agency Reuters that Xiaomi has concrete cooperation plans with Great Wall Motor Company. Great Wall is a major Chinese manufacturer of SUVs and pick-ups. In addition, Great Wall in China works closely with BMW. So a serious player. Exactly what the plans look like will be announced shortly, according to Reuters’ sources.
Why do Xiaomi and Apple want to build cars?
Incidentally, Apple and Xiaomi are not the only electronics giants who want to build electric cars. Baidu, the company behind the largest Chinese internet search engine and telephone manufacturer Huawei, would also have car plans. Google stopped developing its own Google Car five years ago.
A major reason electronics giants want to enter the automotive market is money. They simply expect to achieve greater profit margins with cars than with smartphones and gadgets. But because building, distributing and maintaining cars is a profession in its own right, the tech giants would like to work closely with a car manufacturer.