Your trusty robot vacuum cleaner maker has embarked on a new venture—car manufacturing!

On August 28, Dreame Tech officially announced its foray into the automotive industry, declaring its intention to "create the world's fastest car" (see attached full letter at the end of this article).

According to multiple media reports, Dreame Tech's inaugural ultra-luxury electric vehicle is set to rival the Bugatti Veyron and is scheduled for a grand debut in 2027.

Yes, that's correct; it's the same Dreame Tech primarily known for its innovative robot vacuum cleaners.

Dreame Tech emphasizes that this is not a mere trend-chasing endeavor but rather the culmination of a twelve-year preparation journey that began with the drafting of its first car manufacturing plan at Tsinghua University's Sky Workshop in 2013. Now, leveraging China's "most mature electric vehicle supply chain and technological ecosystem," the company aims to harness its accumulated expertise in technology, organization, and global operations to produce a "globally optimal" and "perfect product".

Public records indicate that Dreame Tech was founded in 2017 as a global high-end consumer electronics and intelligent manufacturing company specializing in high-speed digital motors, intelligent algorithms, and motion control technology. Led by founder and CEO Yu Hao, the company has launched four major product categories: robot vacuum cleaners, cordless vacuum cleaners, intelligent floor washing machines, and high-speed hair dryers.

Earlier this year, in January, Dreame Tech established Starry Sky Plan (Shanghai) Automotive Technology Co., Ltd. (hereinafter referred to as "Starry Sky Plan") with a registered capital of 1 billion yuan. Equity distribution reveals that Yu Hao controls 80% of Starry Sky Plan's equity through two companies: Taikong Aoxiang Technology (Shanghai) Co., Ltd. and Tiankong Wuxian Intelligent Technology (Suzhou) Co., Ltd.

Subsequently, in March, the Shanghai Lingang New Area announced the "04FX-0002 Unit G01, G03, G04 Neighborhood Control Regulation Adjustment," which pertains to the factory land acquired by Starry Sky Plan, totaling 414,400 square meters. This location is situated near the construction sites of Tesla Energy Storage and Contemporary Amperex Technology Co. Limited (CATL).

Currently, Dreame Tech has assembled a car manufacturing team of nearly 1,000 individuals, with plans for further expansion in the future.

Addressing the funding concerns of the market, Dreame Tech's 2024 financial report reveals that the company's overall revenue surpassed 15 billion yuan last year. In the official letter, Dreame Tech assures, "We have made adequate strategic preparations."

Previously, another prominent robot vacuum cleaner manufacturer, Stone Tech, saw its founder Chang Jing venture into car manufacturing. His JiShi Automobile introduced its first extended-range mid-to-large SUV, "JiShi 01," in 2023. However, its performance has been modest since its launch. Data from third-party platforms indicates that JiShi 01 sold 912 units in 2023 and 4,332 units cumulatively in 2024.

From January to July of this year, according to the China Passenger Car Association, JiShi 01's cumulative sales reached 6,755 units.

Given these two companies' similar primary businesses, are you optimistic about Dreame Tech's foray into car manufacturing? Will its inaugural model outperform JiShi 01 in sales upon its official launch?

Image source: Dreame Tech