According to a report from local media, Xiaomi, a Chinese smartphone manufacturer, is working on two electric vehicles (EVs). The first model is intended to compete with Tesla’s Model 3 sedan. It is the first model and codenamed Modena. It will be priced similarly to XPeng’s P7 and be larger and more powerful than the Tesla.
The company is said to be considering two different versions of the vehicle, one with a starting price of RMB 350,000 ($51,600). The other with a starting price of RMB 260,000 to RMB 300,000 (about $38,000 to $43,600).
It is anticipated that a standard 400V BYD lithium iron phosphate battery pack. It will power the more affordable model, which will then be offered for sale to the general public.
The variant with a higher price tag will be constructed using a high voltage 800V architecture and the Qilin Battery from CATL. It can charge from zero to 80 percent in just 15 minutes. LiDAR and Xiaomi-developed algorithms will be included, as well as an Orin X processor from Nvidia.
Qualcomm 8295 processors, which will be used for the first time on the Jidu ROBO-01 later this year, will power the smart cockpits of both versions.
Three motors and in-house-developed control software. They will feature in Xiaomi’s second production vehicle, codenamed “Le Mans,” which is scheduled to debut in 2025. It will construct on the same foundation as the previous one.
Xiaomi announced in March 2021 that it would enter the automotive sector with an initial investment of RMB 10 billion, or $1.55 billion, and an anticipated subsequent investment of $10 billion over the next decade.
Lastly, in November 2021, the business entered into a contract with the Beijing Economic and Technological Development Area Management Committee to construct a facility in Yizhuang that will produce 300,000 units annually, as well as a headquarters for its automotive industry and sales and R&D headquarters.