Old and new companies jostle for smart EV market

Since the beginning of 2021, a raft of companies both at home and abroad have announced their forays into the smart electric vehicle sector in the hope that in the future EV will play a bigger role in next-generation mobility. Let's take a look.

Baidu

In January 2021, Chinese internet giant Baidu announced plans to establish an intelligent electric vehicle company and formed a strategic partnership with auto manufacturer Zhejiang Geely Holding Group.

In March, the new company Jidu Auto was launched with a registered capital of 2 billion yuan and 200 employees. In June, Jidu Auto decided the design of its first electric car and is expected to unveil it at the Beijing Auto Show this year.

Xiaomi

Chinese tech heavyweight Xiaomi announced its foray into the electric car business in late March 2021, and registered its EV business with a registered capital of 10 billion yuan in September.

Lei Jun, CEO of Xiaomi and CEO of its new smart electric car unit, said earlier that the total investment over the next decade is estimated to be $10 billion. At present, Xiaomi's EV division has about 300 employees.

Huawei

In April, on the opening day of the 2021 Shanghai Auto Show, Chinese tech giant Huawei, together with Chinese EV startup Seres, launched a new model－the Seres Huawei Smart Selection SF5, which can be purchased from Huawei's online shopping mall.

In December, Huawei unveiled another new model, the Aito M5, at the company's winter product launch. Richard Yu, CEO of Huawei's consumer business group, said the Aito M5 will offer superior peak power and range to that of Tesla's Model Y.

Niutron

A new brand Niutron under Chinese electric scooter maker Niu Technologies was unveiled in December 2021. Its founder Li Yinan said the company will focus on electric cars and range-extending vehicles, based on its platform called Gemini, and target the premium vehicle buyers in the country.

Niutron will start to take orders for the first model, a large-sized five-seat SUV with two powertrain options, in the first half of 2022 and deliver them from September in the same year.

Sony

Japan's Sony Group said it plans to launch a company this spring to enter the EV market. The new company, Sony Mobility Inc "explores a commercial launch" of electric vehicles, Sony chairman and President Kenichiro Yoshida said at a news conference.

Yoshida also unveiled a prototype sport utility vehicles (SUV), the Vision-S 02, which uses the same electric vehicle platform as the previously announced Vision-S 01 coupe that began testing on public roads in Europe from December 2020.

Foxconn

Apple Inc supplier Foxconn unveiled its first three EV models in October 2021, vowing to grow them into a $35 billion business in five years.

The vehicles - an SUV, a sedan and a bus - were made by Foxtron, a joint venture between Foxconn and Taiwan-based car maker Yulon Motor Co. Foxconn first mentioned its EV ambitions in November 2019 and has since moved relatively quickly.

Apple

It is no secret that Apple seeks to build a self-driving car for customers. In 2014, Apple began working on its "Project Titan." Over the past several years, Apple's car project has changed multiple times, but development is on track.

According to Bloomberg, Apple's work on an autonomous vehicle has been plagued by managerial shifts, changes in focus, and hiring issues almost since it began.

In 2021 alone, Apple has lost six members of the project's management, including Eric Rogers, chief engineer for radar systems, Alex Clarabut, an engineering manager for the battery team, and Stephen Spiteri, a hardware engineering manager, Bloomberg said.