Smartphone maker Xiaomi reportedly plans to make electric cars
The Chinese smartphone giant to market the vehicles under its own brand, Reuters reports.
Xiaomi is reportedly dialing up an entry into the electric-vehicle market.
China's Xiaomi plans to join the electric-car market, Reuters reported late Thursday, citing three unidentified sources described as having direct knowledge of the matter. Xiaomi, one of the world's largest makers of smartphones, reportedly plans to use Great Wall Motor's factory to produce vehicles under Xiaomi's brand.
Xiaomi plans to market the vehicles to the mass market, in line with its strategy for its electronics products, Reuters reported. Xiaomi already makes electric scooters used by scooter rental companies around the world.
The partnership between Xiaomi and Great Wall Motor is expected to be announced as early as next week, Reuters reported.
Xiaomi is the world's third largest smartphone maker, with an 11.2% market share, according to market researcher IDC. But it was dealt a setback in January when the Trump administration placed the company on a blacklist, preventing US citizens or organizations from investing in the company over alleged ties to the Chinese military. A US federal judge issued an order earlier this month temporarily blocking that ban.
Xiaomi didn't immediately respond to a request for comment.