The Xiaomi organization, which is already well-known in our country as a smartphone manufacturer in particular, will enter the car sector, after years of speculations that it would. The Xiaomi Electric Car announcement was made specifically in March 2021, and the matching corporation was then registered. This was established with 1.3 billion euros in initial capital, and throughout the next ten years, it is anticipated that capital will increase to up to 8.4 billion euros.
Xiaomi Electric Car launch
Xiaomi co-founder and CEO Lei Jun stated that the company’s electric vehicle (EV) unit will begin mass production in the first half of 2024, giving the smartphone maker a challenging timeframe for entering a highly competitive sector in China.
According to official Chinese media coverage of the occasion, Lei, a National People’s Congress (NPC) delegate at China’s annual parliamentary assembly, revealed on Sunday that Xiaomi invested more than 3 billion yuan (US$434.3 million) in its EV endeavor last year.
The first EV prototype is anticipated to be revealed in August, according to the most recent news on that front from business founder Lei Jun. HVST Automobile Design, which also created the WM Motor Maven concept car, created the vehicle. Following the introduction, the prototype will go through additional road testing, and a Xiaomi car PR campaign may then begin.
There should be a monthly exchange of technical information between the automotive and smartphone divisions in relation to battery technology, image processing, and the supply chain, according to a media report citing Zeng Xuezhong, Senior Vice President of the Xiaomi Group and head of the mobile division.
Xiaomi Car mass production is expected to begin in the first half of 2024. An initial annual production output of 300,000 automobiles is anticipated.