LYC 1.94% $7.60 lynas rare earths limited

Xiaomi Says It’s Not Working on a Car, Announcement Still Likely...

  1. 6,339 Posts.
    lightbulb Created with Sketch. 1113

    Xiaomi Says It’s Not Working on a Car, Announcement Still Likely in April

    29 March 2021, 06:57 UTC · By Bogdan Popa

    xiaomi-says-its-not-working-on-a-car-announcement-still-likely-in-april-158371-7.jpg

    1 PHOTO
    Like Apple, Xiaomi is believed to be working on its own electric vehicle, and a report last week indicated the Chinese tech firm has already found a carmaker to take care of the manufacturing process.

    The company is likely to work with Great Wall Motors on the project, and if everything goes according to the plan, there’s a chance Xiaomi beats Apple to the launch of an electric car. In other words, Xiaomi could bring its EV to the market in 2023, whereas the Apple car is expected in 2024 or 2025 at the earliest.

    But as far as Xiaomi is concerned, all the reports indicating that it’s working on an EVaren’t true, with Xu Jieyun, the deputy director of the General Office of Xiaomi Group, recently saying in a post on Weibo that it’s all “fake news and is complete nonsense.

    Interestingly enough, the post has already been removed shortly after it went live, and this makes many believe an announcement on a possible Xiaomi car is just around the corner.







    anyclip-logo.png

    Indeed, people familiar with the matter have previously indicated that Xiaomi and Great Wall could reveal their joint project in early April, so in theory, we’re only a few days away from the moment the Chinese tech giant’s debut in the automotive market is officially confirmed.

    In the meantime, it looks like Xiaomi is on a hiring spree for its car unit, especially as the project is gaining pace. Most likely, the company will focus specifically on the software side of the EV, while Great Wall would take care of the rest, including supplying the necessary parts and the assembly process.

    For now, however, everything is still in the rumor stage, with Xiaomi itself apparently tried to fuel all the speculation with this now-removed Weibo comment. More information should surface rather sooner than later, especially since it’s now just a matter of days until we hear something official on the project.


    Does not seem like either Apple or Xiaomi are willing to say I do.
 
watchlist Created with Sketch. Add LYC (ASX) to my watchlist
(20min delay)
Last
$7.60
Change
-0.150(1.94%)
Mkt cap ! $7.103B
Open High Low Value Volume
$7.64 $7.69 $7.56 $20.43M 2.681M

Buyers (Bids)

No. Vol. Price($)
1 29813 $7.59
 

Sellers (Offers)

Price($) Vol. No.
$7.60 121468 3
View Market Depth
Last trade - 16.10pm 13/11/2024 (20 minute delay) ?
LYC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.