Xiaomi’s electric car arrives in 2024 — and it's not as bonkers as it sounds

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Xiaomi's electrical car arrives in 2024 — and it's non equally bonkers equally it sounds

(Prototype credit: Shutterstock)

Xiaomi, the Chinese smartphone maker, is known for slapping its brand on all sorts of different products — regardless of whether they link to its core smartphone business or non. That includes things like smart bulbs, escooters and fifty-fifty suitcases.

But at present the company has announced it'due south going a step further, with the promise that the offset Xiaomi electric car volition launch in the first half of 2024. Yes, really. Information technology sounds like an absolutely bonkers thought, but is it?

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We've all heard nigh how Apple is another company that'southward hoping to brand its manner into the electric motorcar business. Nevertheless, the fabulous Apple Car has reportedly been in development since at least 2014, and Apple tree has reportedly had issues trying to brand that project a reality.

Whether it's a loss of cardinal executives, issues finding an automotive partner to help production or the actual difficulties of switching from phones and computers to a moving auto that may, or may non, be completely autonomous — it'southward clear that Apple is facing some major obstacles.

With that in listen, and considering the automotive industry is already pretty competitive, it seems that jumping from phones to cars would exist a pretty crazy thought. Especially given the promise it would exist done in such a brusque amount of fourth dimension.

For some drivers EVs are a new and strange concept. Having a well known tech brand, such as Apple and Xiaomi, can help customers feel confident in their purchasing choices.

uSwitch

Xiaomi grouping chairman Lei Jun, who made the proclamation at the visitor's investor issue, certainly doesn't think so. In fact, Lei claimed that if Xiaomi doesn't take role in the electric vehicle transition it would "be eliminated" all considering "electric cars take now transformed from a mechanical industry to an data industry."

And this doesn't seem to be a case of Xiaomi slapping its characterization on products fabricated past other companies, as information technology has done with so many other products. The company appear that information technology is setting up a wholly-owned subsidiary to run its EV business, and will be making an initial investment of $1.54 billion, suggests this is the real deal.

That investment is likewise expected to reach $10 billion over the next decade too. Which is no small amount of coin.

Cars are connected devices, whether we like information technology or non

Of course, Lei is non wrong when he says that the automotive industry is now more than of an information industry than a mechanical one. Cars are becoming more and more advanced and hi-tech, and are going to be increasingly reliant on information and connectivity to operate.

That's especially true where autonomous cars are concerned, since the tech industry has sold people on the thought that self-driving cars will exist linked via enhanced connectivity networks. That would, in turn, make them more aware of the presence of other cars, and exist able to alter their speed, route and positioning accordingly.

According to cost comparison website Uswitch, electric cars of the future could only benefit from the expertise and feel afforded by tech giants similar Xiaomi, Apple tree or Google. "Approaching building a auto from a tech POV is going to allow the sector to thrive in a connected globe that embraces new advancements in engineering science," Uswitch said in a statement to Tom's Guide.

Prof Sergio Savaresi, Full professor in Automatic Command at Politecnico di Milano, too pointed out that "the engineering science content of an autonomous vehicle is largely biased towards digital technologies." While we're not at the point where cars tin can drive independently, the auto manufacture is working hard to attain that. These cars will end upward relying on electronic hardware, sensors, telecommunications, besides as algorithms and other software to operate.

In other words, exactly the kind of things tech companies are already equipped to handle. The prospect of the autonomous driving future is, co-ordinate to Prof Savaresi, "a very attractive opportunity for consumer-electronics giants to enter in the automotive market, with a leading position thanks to their high tech knowledge."

The electric car is but a means to an end, acting as an intermediary stride for tech companies to get their foot in the door. It also helps that a lot of essential EV parts —  similar power electronics, lithium batteries, and electrical motors — are much closer to the field of consumer electronics than they were to the internal combustion engine.

On tiptop of that, Uswitch believes that brand recognition from these companies volition also help consumers get on board with greener vehicles. "For some drivers [EVs] are a new and strange concept that we are nevertheless getting used to," uSwitch said, "having a well known tech brand, such as Apple and Xiaomi, tin can help customers feel confident in their research and eventual purchasing choices."

Developing a car is expensive, and difficult work

That being said, having stiff brand awareness can't magic an electric car out of thin air. Information technology nevertheless relies on a tech company from really making the jump from small-scale personal devices like smartphones and tablets to actual moving vehicles.

However Matas Buzelis, head of communications at automotive data company carVertical, pointed out that the differences between electric cars and internal combustion engines play a crucial office in allowing newcomers to enter the market.

The days when Volkswagen Group, GM, Toyota, or whatsoever other well-known motorcar manufacturer had their advantages in engines departments are almost gone.

Prof Sergio Savaresi

"The days when Volkswagen Group, GM, Toyota, or any other well-known car manufacturer had their advantages in engines departments are near gone," Buzelis said. "It is much easier to start a car manufacturing business that builds vehicles with no conventional drivetrain, transmission, and Ice (internal combustion engines) powerplants. Nevertheless, the entry ticket to the car market is extremely expensive."

According to Buzelis, producing a single mass marketplace EV could toll a few billion dollars R&D investments, which may accept too much fourth dimension for a return on that investment. The fact that EVs are missing a lot of components deemed essential to a gas car isn't probable to be an advantage either since electric components aren't actually easier to piece of work with. More than importantly, cars are subject to stringent safety standards, which will likely exist the biggest outcome for newcomers in the automotive industry.

There's also the fact that the automotive manufacture is already pretty packed, and these newcomers would accept to compete with existing auto industry leaders — many of whom have already been in the business for over a century.

Lesser line

It's unclear how far forth into evolution Xiaomi's electric car actually is. Nonetheless, it seems that the thought of a tech company joining the machine industry isn't as zany as it first sounds. It is a lot of hard work, non just to actually pay for and develop the car, but also to compete with automakers that have a caput starting time of several decades.

Then again, a company like Xiaomi has historically been focussed on the software side of things. The hardware was, by its ain access, a means to get people into its ecosystem where the existent money tin be fabricated. That's why its phones are so darn inexpensive compared to the competition.

It stands to reason that this same philosophy would also be applied to its electric car, which could go along the machine at a very competitive toll signal — something EVs sorely lack. 2024 still seems like a pretty aggressive target, especially when someone like Apple tree has spent and so long working on a like product with nothing to publicly show for it.

Then we're just going to have to expect and come across what happens. And whether other big tech companies determine they want in on the EV action, too.

• More than: Apple Motorcar: Everything we know so far

Tom is the Tom'due south Guide's Automotive Editor, which ways he can usually be establish knee deep in stats the latest and best electric cars, or checking out some sort of driving gadget. It's long way from his days as editor of Gizmodo Great britain, when pretty much everything was on the table. He's usually institute trying to squeeze another giant Lego prepare onto the shelf, draining very large cups of coffee, or complaining that Ikea won't let him buy the stuff he really needs online.

Source: https://www.tomsguide.com/news/xiaomis-electric-car-arrives-in-2024-and-its-not-as-bonkers-as-it-sounds

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