Xiaomi Motors' first electric sedan revealed: design and technical highlights

News on October 18th, news that Xiaomi Auto is about to debut has spread frequently recently, attracting widespread attention. Tianfeng International Securities analyst Ming-Chi Kuo recently published an article revealing that Xiaomi Motors’ first model is planned to be released in 2024, with sales expected to reach 50,000 to 60,000 units. Its main features are autonomous driving, software ecosystem, 800V fast charging and power configuration. The price is expected to be less than 300,000 yuan. If the selling price can be close to 250,000 yuan, then the sales volume may be increased.

Xiaomi officially announced its entry into the automotive industry in March 2021, planning to invest US$10 billion in the next ten years. At that time, due to Xiaomi's cost-effective label in the mobile phone market, people had high hopes for Xiaomi's ability to launch cost-effective cars that young people could afford. However, more than two years have passed, and Xiaomi's automobile manufacturing qualifications have not yet been finalized. Although it has entered the trial production stage and has repeatedly emphasized its mass production target in the first half of 2024, it has not yet been finalized.

At the same time, since 2023, multiple rounds of price wars have led many car companies to lower the prices of flagship models to the range of 200,000 to 300,000 yuan. In addition, Tesla’s absolute advantage in this price range makes it questionable whether Xiaomi Motors will still be competitive when it enters the market.

However, the details of the first model have been initially determined. According to currently exposed spy photos, Xiaomi’s first car is a fastback electric sedan with a smooth appearance and a closed front design. The side of the body is equipped with hidden door handles, and the roof lines are smooth and sporty. The rear of the car will use a through-type taillight design, and the rear window may adopt a hatchback design.

In terms of vehicle technology, Xiaomi Automobile will use Qualcomm Snapdragon 8295 chip and be equipped with a self-developed in-vehicle operating system. In addition, Xiaomi cars will also be equipped with lidar to support advanced driving assistance functions. According to previous public information, Xiaomi Auto's autonomous driving system uses a self-developed algorithm and is currently in the testing phase. It has functions such as automatic entry and exit of ramps, active lane changes for overtaking, and automatic island detours on urban roads.

In addition, there is news that Xiaomi Automobile will be equipped with CATL Kirin battery with a capacity of 101kWh and a voltage of 726.7V, indicating that Xiaomi Automobile will use an 800V battery platform. However, there are also reports that low-end models may use a 400V battery platform, while only high-end models will use an 800V battery platform.

Xiaomi Motors also plans to launch extended-range models and is developing multi-generation platforms. The first-generation platform is planned to be launched next year, while the second-generation platform is planned to be released in 2025. The extended-range model is expected to be unveiled together with the second-generation platform.

In addition, the production of Xiaomi cars is ready. The first phase of Xiaomi Motors' Yizhuang factory in Beijing has been basically completed, with a planned annual production capacity of 150,000 vehicles. The second phase of the project is planned to start in 2024 and be completed in 2025. According to reports, the first phase of the factory is currently in the trial production stage and produces about 50 prototypes per week. The factory is also recruiting workshop workers on a large scale and plans to hire about 100 workers, providing an average salary of 6,000 to 7,000 yuan. They work 8 hours a week and have weekends off, so they can join at any time. Once approved by the Ministry of Industry and Information Technology, Xiaomi's factory will officially mass-produce before the end of the year, and the delivery target in the first half of 2024 may be achieved as scheduled.

However, Xiaomi Motors entered the market relatively late, and competition in the domestic new energy vehicle market has become fierce. At present, the new energy vehicle market has stabilized, and the top few car companies have monopolized most of the market share. For Xiaomi Auto to successfully enter the market, it may need to launch applications or new technologies with huge appeal, or offer competitive prices. In addition, Xiaomi can leverage the advantages of its ecosystem, including operating systems, applications, hardware such as mobile phones and IoT, as well as sales channels in overseas markets. Despite fierce competition, Xiaomi Auto still has a chance to stand out in the market.

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