Xiaomi has been arousing curiosity with its recent investments in the automobile industry. Recent reports indicate that the Chinese company plans to introduce two additional cars, increasing its bet in the electric vehicle space. It has also been reported that one of these models will be a hybrid, thus expanding the product range beyond the fully electric SUV.
Xiaomi is working on three car models
Xiaomi filed an application with some regulatory authorities in China last month. The company announced that the SU7 model, codenamed “Modenat”, will be an electric SUV. However, it wants to accelerate its automobile portfolio by launching at least one new model every year.
According to reports, Xiaomi Auto’s product range will include two more electric vehicles that will be launched in 2024. However, in order to meet the demands of different customers, the company’s third model is expected to be hybrid.
Although the specifications of the hybrid model codenamed “Kunlun” are still secret, this will allow Xiaomi to enter the fast-growing hybrid vehicle segment. Sales of electric vehicles, plug-in hybrids and hydrogen-fueled models increased by 35 percent to 6 million units in China.
It was stated that the popularity of hybrids in particular increased in the country and sales grew by 83 percent on an annual basis. This means that hybrids will be serious competitors compared to internal combustion engines. Xiaomi also wants to capture more market share by diversifying its new vehicle series.
The Chinese manufacturer’s entry into the automobile world with three models shows that it intends to expand its presence in the automotive industry. Following regulatory approvals, the electric SU7 is expected to be introduced in February.
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