India’s electric vehicle (EV) market is growing fast and is projected to skyrocket in the coming years, following a global trend of shifting away from fossil fuels.
Interestingly, some of the players who are eyeing this opportunity are not traditional carmakers, but smartphone companies. It makes sense for these tech giants to use their expertise and massive cash flows to enter an emerging EV market, rather than compete with established rivals in the saturated ICE (internal combustion engine) space. Also, EVs are not just about batteries and motors, but also about smart technologies such as voice control and assisted driving, which are the forte of mobile manufacturers.
Xiaomi is the latest smartphone brand to announce its foray into the EV market, but it is not the only one. The Chinese tech giant Xiaomi is gearing up to enter the EV market with a bang. The company has already announced that it will build a plant in Beijing that can produce 300,000 cars per year, and now it has revealed its first EV series – the SU7. The name of the series seems to be inspired by Apple’s iPhone line, as it consists of three models: the SU7, the SU7 Pro, and the SU7 Max. Xiaomi is apparently trying to bring some of its smartphone magic to the car industry for the first time ever.
Two Japanese giants, Sony and Honda, have teamed up to create a new breed of electric vehicles (EVs) that will combine cutting-edge technology and sleek design. Sony will provide the ‘brains’ of the car, including artificial intelligence, entertainment, virtual reality and augmented reality systems, while Honda will seemingly take care of the rest.