Chery and Xiaomi are gearing up to disrupt the electric vehicle market with the low-cost iCar V23, starting at only $16,500 in the Chinese market, Autohome reported, citing leaked internal documents.
iCar V23 aims to disrupt Chinese EV market
EV startup Xiaomi, through its subsidiary Zhimi Technology, partnered with legacy automaker Chery to develop the new iCar V23 electric SUV.
Leaked internal documents revealed that the new electric SUV will only cost at least 119,800 yuan ($16,500) in China, with the potential to hit foreign markets under the Jaecoo/Lucano brand.
For reference, Chery’s currently available iCar 03 crossover costs 109,800 yuan ($15,100) to 169,800 yuan ($23,400). The V23 will be the iCar brand’s second model, following the larger 03.
Zhimi Technology managed the car’s definition, planning, and engineering. Meanwhile, Chery will oversee the production, supply chains, sales, deliveries, and after-sales.
Design
The upcoming iCar V23 follows the boxy design of the iCar 03. However, it sports round headlights, wide wheel arches, flush door handles, and raised bumpers, unlike the 03.
The overall appearance of the iCar V23 seems a strategic combination of BAW 212, G-Class, and Wrangler.
The upcoming electric SUV has 4220/1915/1845 mm dimensions with a 2730 mm wheelbase. Its short overhangs enable the model to have approach and departure angles of 43 and 41 degrees, respectively.
Tech details
The iCar V23 $16,500 has a two-wheel drive (2WD) configuration with 206 mm ground clearance. It also promises a driving range of 401 km.
Interested buyers can reserve the iCar V23 with a 2,000 yuan (approximately $275) deposit, with the final payment set at 117,800 yuan (around $16,235).
The electric SUV will also have a four-wheel drive (4WD) configuration with a ground clearance of 212 mm, suitable for off-road driving.
Unfortunately, the partners have not yet announced the powertrain details of the iCar V23. Chery and Xiaomi plan to initiate the iCar V23 electric SUV’s market debut sometime this year, so we can expect to learn more about the model by then.
Excitingly, Chery and Xiaomi’s Zhimi Technology seem satisfied with the partnership as they plan to roll out six to eight cars in the next three years.
