Xiaomi isn’t working on an electric vehicle… yet

Electric cars are growing in popularity everywhere, including China where numerous companies, many of which had no previous ties to the automotive industry, have been delving into the world of electric vehicles. It has been speculated for a few months that Xiaomi intends to make such an expansion, especially after rumors that Apple was working on its own electric vehicle emerged, which is relevant considering how much Xiaomi tries to “emulate” Apple. However, Xiaomi CEO Lei Jun has made it clear that the company has no such plans at the moment. 

Fans of Xiaomi and fans of alternative-energy vehicles have been tantalized over the past year by rumors that China’s hottest smartphone company might be getting into making electric cars. Other Chinese internet companies are doing it, after all, and there were signs Xiaomi was headed in that direction. But at an industry forum in Northeastern China on Monday, Xiaomi CEO Lei Jun said that at least for the moment, Xiaomi’s not working on an electric car. According to Sina Tech, Lei Jun made it very clear that Xiaomi will not work on an electric car in the next 3-5 years, regardless of how much the market seems to be heating up. “This is unrelated to the market [conditions],” Lei Jun said. “We’re focused on doing the products [we’ve already announced] well, that’s enough of a challenge […] What Xiaomi’s going to do over the next five years is already on the table.” “It’s not that we aren’t optimistic [about the electric car market’s potential],” he added. “It’s that our energy is limited.”