Xiaomi founder and chief Lei Jun says company may struggle to keep up with demand as it prepares electric car launch.
Chinese entrepreneur and Xiaomi founder Lei Jun has said he has high hopes for the company's foray into electric vehicles and is aiming for success.
Lei said Xiaomi had developed its first EV prototype with an investment of more than 10 billion yuan with the work of 3,400 engineers, compared to an industry average of 1bn to 2bn yuan and 300-400 engineers.
Lei said he was inspired by Apple's Steve Jobs and expressed confidence Xiaomi's EV would find a place in China's crowded electric car market.
Lei launched Xiaomi in 2010 in a similarly competitive smartphone market and the firm has grown into the No. 3 smartphone maker worldwide by shipments, according to IDC. Some details of the upcoming SU7 and SU7 Max EV have been disclosed via regulatory filings.
The sedan is larger than both Tesla's Model 3 and Nio's ET5, and will be sold with two battery options offering a range of up to 800 kilometres on a single charge, according to filings.
This Cyber News was published on www.silicon.co.uk. Publication date: Mon, 18 Dec 2023 12:13:04 +0000