Xiaomi works on an electric car by 2023 alongside the great wall

Three people with direct knowledge of the matter said that Xiaomi from China plans to use the Great Wall Motor Factory Co., Ltd. to produce electric vehicles. In this way, we would be in the presence of the latest technology company to join the smart car race.

According to Reuters, Xiaomi cars will be produced in Hong Kong city. The brand's adventure began in 1984 and has now joined the electric car race with the Chinese giant.

After the international news agency issued an envelope about the plan, the share price of the technology company rose more than 9% in Friday afternoon's stock trades. Great Wall Hong Kong shares have risen by more than 15% and Shanghai shares have raised their daily peak of 10%.

Two people familiar with the matter told Reuters, subject to his identity, that Xiaomi, one of the world's largest smartphone manufacturers, is negotiating with a Great Wall factory to produce electric cars under his own brand. Xiaomi will direct its electric vehicles to the mass market based on the wide positioning of its electronic products.

Another nearby source said Great Wall has not previously provided outsourced manufacturing services to other companies. However, this eventual alliance envisages the development of an engineering consultancy, to accelerate the progress of the project.

According to the report, both companies plan to announce this partnership early next week, which would bring their first vehicle copies during 2023.

The future leadership of this field is under constant dispute. Large companies in the technology and automotive world have already begun their deployment, and now these two companies of the Asian giant are on the way.

Alliances of this type usually arise to combine the strengths of two areas that so far, have developed along independent paths that have recently, now last, begun to cross in a more visible way. Under a similar formula, Apple's intention to work with Hyundai on a joint electric vehicle project, an initiative that did not end in good port, was discussed at the time.

In response to Reuters' inquiries, both Xiaomi and Great Wall refused to comment on additional information. Once the announcement of this partnership is made public, we will surely learn more about the movement of these two companies around this project.

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