Xiaomi’s first EV to compete with the Tesla Model 3

One version of the vehicle, with a starting price of between RMB 260,000 and RMB 300,000 ($38,000 to $43,600), and the other, with a starting price of RMB 350,000 ($51,600), are reportedly two that the company is contemplating.

According to a claim by local media, Chinese smartphone maker Xiaomi is apparently working on two electric cars (EVs), with the first type seeking to compete with Tesla's Model 3 sedan. According to reports, the initial model, code-named Modena, will cost about the same as XPeng's P7 and be bigger and more potent than the Tesla.

The less expensive type is anticipated to be marketed to the general public and run on a typical 400V BYD lithium iron phosphate battery pack. It will also have a variety of sensors, including cameras and five mmWave radars identical to those found in the 2021 Li Auto Li ONE, that were created in collaboration with the German company Continental.

The more expensive model will utilise CATL's Qilin Battery, which can be charged from empty to 80% in just 15 minutes, and be constructed on a high-voltage 800V design. It will be furnished with an Nvidia Orin X CPU, LiDAR technology, and Xiaomi algorithms.Both models' smart cockpits will be driven by Qualcomm 8295 processors, which will make their debut on the Jidu ROBO-01 later this year.

Code-named "Le mans," Xiaomi's second production car, is expected to make its debut in 2025 and will have three motors with custom control software. On the same foundation as the original one, it will be constructed.

Xiaomi stated in March 2021 that it will be entering the automotive sector, with an initial investment of RMB 10 billion ($1.5 billion) and a predicted additional expenditure of $10 billion over the ensuing ten years.In November 2021, the business agreed to a deal with the Beijing Economic and Technological Development Area Management Committee to construct a 300,000-unit-per-year facility in Yizhuang as well as the company's headquarters for its automotive industry, sales, and R&D.

The factory is anticipated to begin mass production in 2024 after being built in two phases with a combined annual production capacity of 150,000 automobiles.

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