OUR xiaomi is one of the technology giants investing heavily in the development of its own electric vehicle, with the company set to spend $10 billion to develop the car. But since several companies in the field have failed in front of the smartphone manufacturer, it may have problems with regulators, which loading new documents from the manufacturer.

How portals are marked Bloomberg as well as ArenaEVRecently, China’s electric vehicle industry has grown significantly, but several companies appear and cannot launch their car models, with even large companies in the country facing these problems. Because of this the authorities began to strengthen the approval of new companies enter the automotive industry.

because of this xiaomiwho was supposed to present his model in the coming weeks, had to present additional documents for your project, in addition to proving its technological know-how. The problem with the Chinese giant is that evaluating these new documents can take monthshowever, the government could request new documents or even reject a $10 billion project, causing the company to have to restart the approval request.

Xiaomi car launched in 2019 with Chinese automaker Bestune | Credits: Bestune ad

Unfortunately for the brand owner Redmi as well as PITas indicated ArenaEVwhile she waits for the approval of the authorities, her main competitors are increasingly moving forward in their projects.

The whole process of research and development Xiaomi’s first electric car is allegedly ready, and only the design process is completed so that the model is ready. The company will now have to wait for the license to be issued by the government before mass production of the car.

At present, the Chinese giant has already hired 1,000 employees for its automotive division, with several plots of land purchased to house new factories. The company expected to start selling its first electric car from 2024, but problems with authorities could make that impossible.

Source: ArenaEV, Bloomberg.

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