Tech Companies Foraying into the EV Segment

Electric vehicles have taken the world by storm. The need for a mode of transportation that is sustainable for the environment and cheap contributed to the meteoric rise of electric vehicles. With major automobile companies looking to go fully electric by 2030, there are some unlikely contenders in the market – tech companies. That is a transition that no one saw coming since these companies never had automobile-making in their plans!

Apple

In December 2020, Apple announced its plans to launch its line of EVs in the next three to six years. The partnership with Hyundai is a major stepping stone for the company. There are plans to collaborate with Stellantis and General Motors as well. With over 1000 vehicle experts working on this project, Apple is a leading contender in the EV business.

Sony

Sony's recent venture into the electric vehicles business is the seven-seater SUV. The prototypes are already being built, and the company is racing towards starting an electric vehicles line. OTA updates, full-functional dashboards with infotainment systems, and 360-degree reality audio systems are major technologies that the company is focusing on.

Samsung

The company named "Renault Samsung Motors" is a joint venture between Samsung and Renault motors. Samsung and Renault are working towards introducing high-end technology laden EVs. With Samsung's superior-tech expertise, the vehicles are bound to succeed.

Waymo

Self-driven electric vehicles are the major efforts that the company is focusing on. The division was separated from Google and now works under the Alphabet banner. For now, the capacity of these vehicles is restricted to two passengers, but the company is looking to make rapid progress in enhancing the seating capacity.

Huawei

Even though the company has been mired in recent controversies regarding the 5G technology, the Chinese tech giant has been making giant strides in the EV market. Forged out of a partnership between Huawei and Seres, the company recently showcased a hybrid SUV called SF5. The car features a 4-cylinder engine which acts as a generator for the car.

Xiaomi

The company does not plan on releasing sports cars; instead is choosing to focus on their new line of sedans or SUVs. The company is making a record investment of $10 billion to manufacture EVs. There is still time before Xiaomi vehicles hit the road.

Oppo

One of Oppo's main things from the rest of its competitors is its patent on various EV technologies. These include distance measuring devices and electronic equipment that measure the car's positioning. Self-driven cars are the main focus of the company at this moment.

Foxconn

Foxconn is a giant Taiwanese company rolling out competition destroying EVs under their "Foxtron" marque. It recently unveiled the Foxtron Model E Sedan that rivals Tesla's sedan model!

The interesting development witnessed in the EV segment is all set to get even more interesting with leading tech giants looking to foray into the market.