According to Electrive, the potential future EV sedan from Xiaomi will be a larger and more powerful alternative to the Model 3 and the starting price could be somewhere between 36.000 and 41.000 euros, with a more expensive model being priced at around 48.000 euros.

Should things go to plan, Xiaomi's first EV could be showcased before the end of 2023 and people could potentially get their hands on it by the first quarter of next year.

Another EV from Xiaomi, codenamed Le Mans, could be arriving in 2025 and it is rumored to sport three electric motors.

The Chinese phone maker plans to build a factory that will be making these cars in Beijing, which will have an initial capacity of 150.000 cars per year, with the possibility to expand the capacity to 300.000 units.

Xiaomi even created a subsidiary back in 2021, called Xiaomi Automobile Technology, and the company plans to invest around 8.5 billion euros in developing EVs over the next ten years.

Apple is another smartphone manufacturer that has been targeting the EV market for some time now, but the rumored Apple Car hasn't been launched yet.