Xiaomi will aim its EVs at the mass market, in line with the broader positioning of its electronics products.China’s Xiaomi Corp plans to make electric vehicles (EVs) using Great Wall Motor Co Ltd’s factory, said three people with direct knowledge of the matter, making it the latest tech firm to join the smart mobility race.
Xiaomi declined to comment, while Great Wall said in an exchange filing late on Friday it had not discussed such a partnership with Xiaomi.Xiaomi’s shares closed up 6.3% after Reuters reported the plan. Great Wall’s Hong Kong stock ended up 10.4% and its Shanghai shares gained by their maximum 10% daily limit.
Xiaomi, one of the world’s biggest smartphone makers, is in talks to use one of Great Wall’s plants in China to make EVs under its own brand, said two of the people, who declined to be identified as the information is not public.
News Source: Hindustan times