A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022.
Xiaomi, which owns the world's third largest smartphone brand by shipments, did not immediately respond to a request for comment.
Xiaomi plans to produce about 100,000 EVs next year, said one of the sources.
But Xiaomi, which reported an 18.9% drop in its latest quarterly revenue in May, has its own compulsions for foraying into EVs.
Xiaomi plans to use the thousands of stores it has as showrooms for its electric cars, Reuters previously reported.
Persons:
Francis Mascarenhas, HONG KONG, Xiaomi, Tesla, NDRC, MIIT, Lei Jun, Julie Zhu, Muralikumar
Organizations:
REUTERS, Xiaomi Corp, HK, National Development, Reform Commission, EV, Ministry of Industry, Reuters, Lucid, Beijing Daily, China Passenger Car Association, Thomson
Locations:
Mumbai, India, HONG, Beijing, Shanghai, Reuters U.S, China, China ., EVs