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Chinese smartphone company Xiaomi plans to begin production of its first electric vehicle in 2024

Speaking at the annual China’s National People’s Congress gathering in Beijing, CEO, Lei Jun said: “Xiaomi’s car manufacturing has progressed beyond expectation and [prototypes] have recently successfully completed winter testing.”

Lei also confirmed Xiaomi had invested more than 3 billion yuan (£360 million) in its electric car division, Xiaomi Automobile, in 2022. He added that staffing of its R&D department had risen to more than 2300 people.

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XPeng launched its new P7i sports sedan for the Chinese market

XPeng Inc. today officially launched its new P7i sports sedan for the Chinese market, bringing to customers its most advanced technologies with upgrades in driver assistance, smart cockpit, performance, and charging efficiency.

XPeng P7i Sports Sedan

XPeng P7i Sports Sedan

Pricing of the new P7i starts at RMB 249,900 (~ CDN$50,000 / €34,000 / US$36,000) and delivery will start this month for customers in China.

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The dominant Chinese EV market is slowing

After strong electric vehicle sales in 2022, the Chinese car market is facing a setback in growth in 2023.

Last year, 23.5 million new passenger cars were sold in China, a 10% increase from 2021, according to data from CEIC and the China Association of Automobile Manufacturers (CAAM). Electric vehicles (battery electric [BEV] and plug-in hybrid electric [PHEV]) represented a share of around 26%, in units almost double the 2021 number. This strongly contributed to the general car sales growth figures, especially in the final four months of last year. Fully electric cars (BEV) sales represented almost three-quarters of total Chinese EV sales.

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Nissan is accelerating its electrification strategy because customers prefer EVs

In response to changes in customer needs and the business environment, Nissan has revised its plan to further accelerate electrification.

Nissan Motor Co., Ltd. just announced they will be introducing 27 new electrified models, including 19 new EVs, by fiscal year 2030.

In November 2021, Nissan had announced they would have 23 electrified vehicles, including 15 EVs, by 2030.

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