Xiaomi Corp. has been talking to the automakers about potential production partnerships, and reports say that it waits for Beijing to approve a license that would give it the right to manufacture electric cars itself.
The Chinese designer and manufacturer of consumer electronics has ambitions of becoming a producer of its own brand of electric vehicles, and it has engaged with several carmakers, including Brilliance Auto Group Holdings Co. and Chery Automobile Co.
Last year, Xiaomi also held talks with Beijing Automotive Group Co. on potential collaboration around producing EVs, but now it casting a wider net as China seeks to limit the number of EV production licenses as the nation’s new-energy vehicle market matures.
After growing at a breakneck pace via years of generous subsidies, the EV sector is plateauing somewhat, and existing players are slashing prices to spur consumer demand.
