Based on local reports, Xiaomi is also working on two electric cars, one of which the brand would definitely intend to be a direct competitor to the Tesla Model 3. THE Modena the end result of the project running under the code name would be a slightly larger and more powerful car than the Model 3, which Xiaomi would supposedly price at the level of the XPeng P7. Converted into European forints, this would mean a starting price of 14 million HUF, and depending on the configuration, the purchase price could be as high as 19 million HUF.
As for the cheaper models, they are rumored to be powered by BYD’s standard 400-volt lithium iron phosphate battery pack. The sensors used by the car – cameras and radar with a wavelength of at least five mm – were allegedly developed jointly with the German Continental. CATL’s 800-volt Qilin battery pack would work in the larger model, and Nvidia Orin X processor and LiDAR sensors are rumored for this model. In addition, the passenger system of both models will be built around the Qualcomm 8295.
Xiaomi announced in 2021 that it will invest one and a half billion dollars in the automotive industry, and plans to spend another ten billion in the decade. According to the rumors, Rivian can be the manufacturing partner of Xiaomi, and the production and market entry will take place in two waves starting from 2024.