Xiaomi wants to build electric vehicles at Great Wall Motor factory
Xiaomi, one of the world's largest smartphone makers, is in advanced negotiations to use one of Great Wall Motor's factories in China to produce electric vehicles under its own brand. Xiaomi will target its EVs at the mass market, in line with its other electronics products' broader positioning. Great Wall Motors, which has not previously offered manufacturing services to other companies, will provide technical advice. Strategically, it makes sense for Xiaomi as they are now trying to diversify their revenue streams from the smartphone business, which accounts for the majority of its revenue but has low-profit margins.
This briefing is contributed by and first appeared on CIMK.
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