Xiaomi joins the world of electric cars

Today, Friday, reports revealed that the Chinese smart phone company “Xiaomi” intends to break into the world of the electric car industry.

And according to 3 people with direct knowledge of “Reuters”, “Xiaomi” will manufacture its electric cars using a factory belonging to “Great Wall Motor”, making it the latest technology company to join the race of smart transportation.

Two people, speaking on condition of anonymity because the information is not public, said that “Xiaomi”, one of the largest smartphone manufacturers in the world, is in talks to use one of the “Great Wall” factories in China to make electric cars under its own brand.

They added that “Xiaomi” will direct its electric cars to the mass market, in line with the wider location of its electronic products.

While one person said that “Great Wall”, which has not previously provided manufacturing services to other companies, will provide engineering advice to accelerate the project of manufacturing electric cars under the name “Xiaomi”.

Another person said the two companies plan to announce the partnership as soon as possible next week.

Apart from making smartphones, Xiaomi manufactures dozens of internet-connected devices, including motorcycles, air purifiers and rice cookers.

It is noteworthy that the “Great Wall” company, based in Baodingen, is the largest manufacturer of small trucks in China. This year, it launched a stand-alone brand for electric and smart cars. It is also building an electric car factory in China with the German company BMW AG.

While “Xiaomi” refused to comment to Reuters on news of its manufacture of electric cars, the “Great Wall” company said in a statement in the stock exchange late Friday that it had not discussed such a partnership with “Xiaomi”.

After Reuters announced Xiaomi’s plans to manufacture electric cars, shares of the Chinese technology company closed up 6.3%, and that of the Great Wall factory in Hong Kong ended 10.4% higher.