Recently, Dreame founder Yu Hao responded directly to the question of Dreame’s car manufacturing. In a comment under an article about Dreame entering the car industry, he told netizens that “courage does not necessarily come from ignorance,” and also revealed that a team of professionals is working together on the project. He added, “We have done financial calculations and can afford it.” Finally, he urged netizens, “Please don’t criticize other domestic car brands just to criticize us.”
Dreame Technology announced its entry into the car industry on August 28 this year. At that time, the company revealed that its first ultra-luxury electric vehicle would compete with the Bugatti Veyron, and it is scheduled to be unveiled in 2027. Dreame Technology is a domestic smart home appliance company established in 2017, primarily focusing on products such as robotic vacuums, smart floor washers, cordless vacuum cleaners, and high-speed hairdryers. Initially a part of the Xiaomi ecosystem, Dreame grew in the smart cleaning field with Xiaomi’s brand endorsement and channel advantages. Founder Yu Hao graduated from Tsinghua University with a major in aerospace engineering. He is the developer of quadcopters, the inventor of three-rotor aircraft, and the founder of Tsinghua University’s “Sky Workshop.” In 2017, Yu Hao’s team successfully developed the first high-speed digital motor with 100,000 RPM. That same year, Yu Hao founded Dreame Technology, focusing on smart home appliances.
It is noteworthy that after Dreame announced its move into car manufacturing, everything has been progressing smoothly. On September 12, the company announced the completion of its first round of funding. Regarding the factory location, it was reported that on September 8, Yu Hao and his team visited Germany to select a location for Dreame’s car factory. It is understood that Dreame will cooperate with BNP Paribas to jointly build a factory in Germany, currently in the process of site selection near Tesla’s German factory. On September 17, the company also released official images and some technical specifications of its first vehicle.
As for the motivation behind car manufacturing, an insider from Dreame Technology revealed to the media that during this rare window of opportunity, the company saw a chance to leverage its accumulated technological strength, global channels, and brand recognition in the smart hardware field to make a strategic leap from “smart home appliances” to “ultra-luxury electric vehicles.” They also pointed out that Dreame has certain advantages in car manufacturing, particularly in areas like intelligent perception, AI algorithms, visual recognition, scene modeling, and autonomous path planning. These technologies have already been commercialized in service robots and can be applied to the development of advanced driver assistance systems (ADAS) and intelligent cabin interaction experiences.
In response to netizens’ doubts about Dreame’s car manufacturing, Yu Hao also posted in his personal WeChat moments, stating that Dreame was his first full-fledged startup after leaving Tsinghua University. He mentioned that many of Dreame’s subsequent businesses can be seen as his second, third, or even fourth startup, though he did not sell the first company. Additionally, in a recent interview with the media, Yu Hao revealed that the company has divided its automotive business into two brand operations—Dreame Auto and Xingkong Auto. The former is focused on creating models that compete with Bugatti, internally named “Dreame-Bugatti,” with both electric and extended range versions. The latter is a subsidiary incubated by Dreame, mainly targeting models that compete with the Cullinan and Bentley. Yu Hao emphasized that he values the model competing with Bentley, with four configurations already planned.
The automotive industry is highly competitive, and the industry shuffle among car manufacturers is intensifying. Whether Dreame can successfully cross over into car manufacturing remains to be seen over time. Some industry experts have pointed out that, in terms of the current ultra-luxury car market in China, there is still some space due to relative scarcity, meaning Dreame’s entry into the ultra-luxury car market faces less competition. However, there are also challenges, as ultra-luxury car brands typically need to have a certain historical foundation and brand culture. Most customers who purchase ultra-luxury cars tend to value the brand’s philosophy and culture as much as the vehicles themselves.
