According to foreign media reports, Guo Mingchi, an analyst at Tianfeng International Securities (TF International), anticipates that MI will launch its car in 2024. The expected shipment volume will be between 50,000 to 60,000 units, and the price is predicted to be below 300,000 RMB. The main selling points of this vehicle include autonomous driving, a comprehensive software ecosystem, and an 800V fast charging and power unit. If the price approaches or even drops below 250,000 RMB, the shipment volume of the MI car should have potential for growth.
Guo Mingchi believes that, in the long run, MI cars have two unique competitive advantages. The first is its integration with the existing ecosystem, which encompasses systems, apps, phones, and other IoT hardware. The second is MI's extensive sales channels that span overseas markets. Being a globally renowned company, this will likely facilitate the overseas growth of MI's car business in the future.
In August, according to a Reuters report, insiders revealed that MI had received approval from the National Development and Reform Commission (responsible for regulating new investments and production capacity in China's automotive industry) to manufacture electric cars. There are indications suggesting that MI's annual car production capacity at its Yizhuang factory in Beijing could reach 200,000 units.
Previously, there were continuous leaks of spy shots of the MI car, and information about its battery and range has also been unveiled: a ternary lithium battery, 800V high-voltage fast charging, and a 700km extended range. The Bluetooth Technology Alliance SIG database indicates that the first MI car will support Bluetooth 5.2 and Apple CarPlay, and the cockpit chip of the MI car will also feature Qualcomm's latest flagship chip, Snapdragon 8295.
Recently, as reported by Bloomberg, insiders disclosed that while MI is awaiting approval from the Ministry of Industry and Information Technology to produce electric vehicles independently, it is in talks with several well-known car manufacturers, including Huachen Automotive Group and Chery Automobile, about potential production collaborations. Negotiations between MI and these automakers are ongoing, and it remains uncertain if they will reach an agreement.
