Xiaomi to debut electric sedan by the end of 2023
Chinese smartphone manufacturer Xiaomi is now moving forward with its electric car plans. According to Chinese media, the first of the four planned Xiaomi power cars will be an electric sedan to compete with the Tesla Model 3.
According to the news website CN EV Post, the mid-sized sedan, internally codenamed Modena, will be larger and more powerful than the Tesla Model 3 and will be positioned similarly to Xpeng’s P7 sedan.
Xiaomi is said to be considering a version of the model with a starting price of 260,000 to 300,000 yuan (about 36,000 to 41,000 euros) and another variant with a starting price of 350,000 yuan (about 48,000 euros).
According to the latest report, the lower-priced version will use a 400-volt platform and LFP batteries from BYD, while the manufacturer will rely on an 800-volt platform and Qilin batteries from CATL for the more expensive variant. If all goes according to plan, Xiaomi’s first model should be unveiled in late 2023 and available in the first quarter of 2024, which would also resonate with earlier reports. Xiaomi’s second model with the internal codename Le Mans will follow in 2025. This second model is to be based on the same platform as the Modena and will have three engines.
It became clear back in spring 2023 that the Chinese smartphone manufacturer was planning four electric car models. At the time, there was talk of two mid-range models each in the price range of 150,000 to 200,000 yuan and high-end models in the price range of 200,000 to 300,000 yuan. More recent information indicates that these prices will now be higher.
Xiaomi is reportedly planning an electric car plant in Beijing, which is to be built in two stages and offer capacities for first 150,000 and then 300,000 electric cars per year. The plant itself, along with sales offices and research labs, is to be located in the Beijing Economic-Technological Development Area, a development and technology area in Yizhuang, a southeastern suburb of Beijing.
At the end of March 2021, after much deliberation, Xiaomi made the decision to launch a subsidiary to run the group’s future “smart electric vehicle business”. At the time, Xiaomi announced plans to invest a total of ten billion US dollars (about 8.5 billion euros) in the electric car business over the next ten years. According to earlier Reuters reports, Xiaomi launched its subsidiary called Xiaomi Automobile Technology with a registered capital of one billion yuan (just under 140 million euros). The new company’s CEO is Lei Jun, Xiaomi’s founder and overall CEO.
According to a report by Car News China in November, Xiaomi Group last year invested in several companies involved in smart electric vehicles. Lei Jun is also said to have a goal of eventually delivering more than 10 million cars annually.
