Saturday, July 13, 2024

Xiaomi EV Plans Extended-Range Electric SUV for 2026 Launch – Report

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Xiaomi EV, the car-making arm of tech giant Xiaomi Corp, is set to introduce its third model, an extended-range electric vehicle (EREV) in the form of an SUV, local media outlet 21jingji reported yesterday, citing sources familiar with the matter.

Scheduled for a 2026 launch, the new EREV model aims to cater to family users, emphasizing a blend of electric mobility and extended range capabilities. Xiaomi has expressed optimism about the EREV’s potential, having explored multiple iterations during the pre-research phase, as disclosed by insiders.

Innovatively, Xiaomi plans to adopt a unique business model for its third vehicle, substituting automotive-grade components unrelated to safety with consumer-grade hardware. This approach includes using consumer-grade chips for non-safety critical functions like cockpit-related cameras, allowing for potential feature enhancements post-purchase, according to sources.

Unlike traditional automotive manufacturers, Xiaomi aims to empower users by enabling additional feature upgrades after vehicle acquisition, aligning with its consumer-centric strategy.

Xiaomi’s upcoming launch event in July is expected to showcase not only new phone-related products but also provide insights into its automotive ambitions, potentially unveiling details about the new models, as reported. The company’s second model, an all-electric SUV codenamed Lemang, is slated to rival the Tesla Model Y by mid-2025, while the EREV model, codenamed Kunlun, targets competition with Li Auto (LI) in 2026.

EREVs, including plug-in hybrids (PHEVs), are gaining traction in the market due to their perceived elimination of range anxiety compared to battery electric vehicles (BEVs), making them more appealing to average consumers. Xiaomi’s entry into the EREV segment reflects broader industry trends towards diversified electric vehicle offerings.

Other players like Neta Auto, Leapmotor, and IM Motors are also venturing into EREVs, expanding their portfolios beyond initial BEV offerings.

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