The latest development of Xiaomi car building: investing in Etek

According to APP, recently, industrial and commercial changes have taken place in Etaike Automotive Electronics (Wuhu) Co., Ltd., adding Xiaomi affiliated company Hainan Jimu Venture Capital Co., Ltd. as a shareholder.

It is understood that Etek Automotive Electronics (Wuhu) Co., Ltd. is a Sino-foreign joint venture jointly invested by Australia Etak Automotive Technology Co., Ltd. and Xinyuan Investment Management Co., Ltd in 2003. mainly engaged in the design, development, manufacture, and sale of all kinds of automotive electronic products. It includes domain controller, software, keyless entry, Ethernet gateway, millimeter wave radar, Bluetooth RF module, intelligent truck integration module, intelligent 360 look system, new energy vehicle controller and so on. Among them, Etek's intelligent Ethernet gateway system and millimeter wave radar have been equipped with many models of independent brands.

Since Xiaomi announced its entry into the bureau at the end of March, it has been actively strengthening the layout of the automobile field. Over the past period of time, Xiaomi has invested in a number of supply chain enterprises, including Longmu Technology, Wesai Technology, Geometry Partners, Yutai Microelectronics, Konghui Automobile, Black Sesame Intelligence, Ganfeng Lithium Power, Weilan New Energy, etc., covering many core technology areas, such as ADAS, high-level self-driving, lidar, 4D millimeter wave imaging radar, vehicle chips, batteries, and so on.

A few days ago, Olympian Electronics also said on the interactive platform that the company is in contact with Xiaomi Automobile and is not a Xiaomi auto parts supplier for the time being.

Until now, however, Xiaomi has yet to disclose the details of its first model. I only know from a few words from Lei Jun that Xiaomi's first car is planned to be a sedan or the SUV, price range is between 100000 and 300000 yuan.

Recently, Xiaomi Group pointed out in its third quarter financial report that the Xiaomi car project is progressing smoothly, with more than 500 team members, and reiterated that the Xiaomi car will be mass produced in the first half of 2024. To this end, Xiaomi Technology has formally signed a contract with the Management Committee of Beijing Economic and technological Development Zone a few days ago, announcing that Xiaomi Motor has settled in Beijing Economic Development Zone. It is reported that the project will build Xiaomi automobile headquarters, sales headquarters and R & D headquarters, and build a vehicle factory with an annual output of 300000 vehicles in two phases, with a production capacity of 150000 vehicles in the first and second phases respectively. The first car is expected to be offline and mass produced in 2024.