Xiaomi and OPPO are reportedly working on their electric vehicles to launch in 2024. Both companies are among the greatest Chinese OEMs, and their interest in the EV segment can change the industry’s landscape.
According to 91mobiles, OPPO electric vehicles are currently in the development stage, and the company is considering India as a potential market. The news is confirmed by BBK Electronics, which owns OPPO, Realme, and the OnePlus brands.
As per the report, these companies have filed multiple trademarks for their vehicles in India. Moreover, OPPO seems to be so serious about its EV plans that it has started the planning process. The electric vehicle segment in India is overgrowing, and it is an extremely attractive market for EV manufacturers.
To date, there is no information about the possible specification of OPPO electric vehicles. We just know that the company wants to launch its EVs in early 2024. However, OPPO does not seem to be able to build an electric car on its own and will definitely need the help of other companies. The names of possible partners have not been announced yet, but Chinese car companies will definitely help OPPO in this direction.
Xiaomi will also launch electric vehicles
OPPO is not the only Chinese manufacturer that wants to launch EVs. The Xiaomi CEO has previously approved that the company will start the mass production of its electric vehicles in 2024. Also, Xiaomi intends to invest $10 billion in its EV division over the next ten years. Of course, Xiaomi has announced its plans to produce electric vehicles since 2015, and the company has a long-term plan for this segment.
Earlier this year, Xiaomi even registered a car company called Xiaomi EV Company Limited. According to the company officials, their goal is to reach “true driverless passenger cars” by at least 2025. However, Xiaomi has recently registered its second car company, Xiaomi Automobile Technology Co., Ltd.
The new company has a capital of 1 billion yuan, and it will focus on energy vehicles, vehicle manufacturing, and technology development. We still don’t have much information about the business scope of these brands, but the second company may be responsible for providing peripherals and accessories for the first company.
Xiaomi and OPPO are not the only Chinese OEMs that have focused on producing EVs. Huawei also started its efforts years ago, and it has even launched some prototypes. One of the reasons that drove Huawei into electric vehicles was the US sanctions against the company, which forced Huawei to move to new business segments to make more money.