According to people familiar with the matter, Xiaomi (14.7%, 0.00%, 0.00%) group plans to use Great Wall Motor’s factory to produce electric vehicles, becoming the latest technology company to join the smart mobile travel competition.
Xiaomi is in talks with great wall motor to use a great wall motor factory in China to produce its own brand of electric vehicles, the source said.
Two people familiar with the matter said that Xiaomi’s electric vehicles will be aimed at the mass market, which is consistent with the overall positioning of the company’s electronic products.
One of the people familiar with the matter said Great Wall had never provided manufacturing services to other companies before and would provide engineering consulting this time to speed up the project.
Both companies plan to announce the partnership as early as early next week, one of the people familiar with the matter said.