BGR.in: Smartphone maker Xiaomi is looking at venturing into the automotive business, and is rumoured to be working on an electric car. While this wasn’t possible before, the Chinese government recently unveiled a plan to allow new players, including non-auto companies, to enter the electric vehicles sector, TechInAsia reports.
Xiaomi’s plans to enter the vehicle sector was first revealed earlier this year, when CEO Lei Jun said, “The company is now working with a well-known car enterprise to secretly develop a kind of pure electric automobile, which will be put into mass production in 2015 at the soonest.” Jun was speaking at the China Internet of Vehicles Conference 2014 held earlier this year in Shenzhen.
While the company has successfully kept its plans under wraps, there have been a few rumors trickling out of the mills. The publication reports that Xiaomi’s VP Li Wanqiang is currently in Silicon Valley working on a new product that could very well be an electric car. The Valley after all is the headquarters for quite a few car companies, including Tesla. A few rumors circulating online also claim that Xiaomi could be working with Tesla for manufacturing its first electric car.
As mentioned, until recently Xiaomi wasn’t allowed to do any kid of business in the automotive sector. China’s rules only allowed automotive companies to develop cars, and the only way Xiaomi could build a car was to buy a car company. But recently, China’s National Development and Reform Commission (NDRC) revealed a set of new regulations that allows non-automotive companies to enter the electric vehicle sector. These regulations however are currently under review and only when passed by the government, would Xiaomi get the green light to launch its first electric car.
Xiaomi’s plans to enter the vehicle sector was first revealed earlier this year, when CEO Lei Jun said, “The company is now working with a well-known car enterprise to secretly develop a kind of pure electric automobile, which will be put into mass production in 2015 at the soonest.” Jun was speaking at the China Internet of Vehicles Conference 2014 held earlier this year in Shenzhen.
While the company has successfully kept its plans under wraps, there have been a few rumors trickling out of the mills. The publication reports that Xiaomi’s VP Li Wanqiang is currently in Silicon Valley working on a new product that could very well be an electric car. The Valley after all is the headquarters for quite a few car companies, including Tesla. A few rumors circulating online also claim that Xiaomi could be working with Tesla for manufacturing its first electric car.
As mentioned, until recently Xiaomi wasn’t allowed to do any kid of business in the automotive sector. China’s rules only allowed automotive companies to develop cars, and the only way Xiaomi could build a car was to buy a car company. But recently, China’s National Development and Reform Commission (NDRC) revealed a set of new regulations that allows non-automotive companies to enter the electric vehicle sector. These regulations however are currently under review and only when passed by the government, would Xiaomi get the green light to launch its first electric car.
