Chinese robotics and home appliance maker Dreame Technology said on Wednesday it is entering the automotive industry, with plans to launch an ultra-luxury pure-electric vehicle in 2027 designed to compete with high-end models such as the Bugatti Veyron.
“Today, Dreame officially announces its entry into automotive manufacturing to build the world’s fastest car,” the company said in a statement. It added that the vehicle will leverage Dreame’s proprietary high-performance motors and integrate with users’ smart homes and mobile devices.
Dreame has assembled an automotive team of nearly 1,000 people and plans to continue expanding. The company said its decision to enter the sector was based on a vehicle development plan dating back to 2013, rather than a short-term trend.
The company acknowledged the competitive environment in China’s EV industry, citing intense demand for technological innovation, rapid iteration, and supply chain integration. “We may not be the earliest to embark on this journey, but we will be the most determined,” Dreame said.
Founded in 2017 and headquartered in Suzhou, Dreame is a leading player in China’s home robotics sector, with products including robot vacuum cleaners, cordless vacuums, robotic floor scrubbers, hair dryers, and lawn mowers sold in over 120 countries and regions. The firm cited its market leadership in more than 20 regions as a foundation for its automotive ambitions.
The move comes as China has tightened vehicle manufacturing qualifications, reducing the number of new entrants in the electric vehicle market. Several previously new automakers, including HiPhi, Neta, and Jiyue, have struggled or exited in recent years amid growing competition and industry consolidation.
Dreame said its first model will feature an extended-range powertrain and is expected to be exported to Europe after its domestic debut.