According to news outlet LatePost, Xiaomi is planning to enter the car market as it seeks to expand into new fields. Xiaomi has not yet responded to the claims.
The smartphone and electronics manufacturer has been conducting research and investment into the automotive industry for several years. According to patent application documents published by the State Intellectual Property Office, Xiaomi has been applying for patents on developments including car cruise control, energy supplementation, vehicle control, navigation, assisted driving, and driving safety since 2015.
Speculations have asserted that Xiaomi’s founder Lei Jun may lead its car business. Jun visited Tesla CEO Elon Musk in the US twice in 2013. At the time, he wrote online that he was curious about the car industry and Tesla’s smart electric vehicles.
China’s new energy vehicle market is booming and China’s State Council plans for the sales of new energy vehicles to represent 20% of total car sales by 2025.