The CEO of Xiaomi Corporation has provided an update on the development of the Xiaomi Automobile brand that “exceeds expectations.” It comes after more than six months have passed with almost no mention of the status of the Xiaomi Automobile brand.
Despite previous difficulties obtaining necessary licenses in China, Xiaomi Automobile now seems to be on track to begin production of electric vehicles (EVs) in 2024. Some images are making the rounds on the internet that may hint at the design of the smartphone giant’s first EV.
It is more common knowledge that Xiaomi Corp. is a Chinese electronics company rooted in an Internet of Things (IoT) platform. Currently, the company specializes in producing smartphones, mobile applications, laptops, and home appliances.
Xiaomi’s EV company
However, in March of 2021, Electrek reported that Xiaomi had shared definitive plans to manufacture its own electric vehicle model for the Chinese market.
By September, the company had formally registered Xiaomi Automotive as an electric vehicle company.
Nonetheless, it was still looking for an experienced partner in EV manufacturing to assist it in making the transition from manufacturing smartphones to manufacturing entire automobiles.
Xiaomi Automotive agreed in late 2021 to locate the entirety of its automotive operations in the Beijing suburb of Yizhuang. The R&D center, corporate offices, and EV manufacturing would be built within the footprint in two stages.
Lei Jun, a co-founder of Xiaomi, promised to invest approximately $10 billion over the next ten years in the company to enable Xiaomi Automotive to start producing EVs in 2024.
Progress still needed to be made up to that point. Xiaomi Automotive is discussing with BAIC Group’s EV automotive brand, BAIC BluePark New Energy Technology Co., the possibility of developing jointly branded EVs.
Nine months later, Xiaomi CEO Lei Jun addressed the EV market again but did not mention co-branding. Instead, the business has made significant development strides and is still aiming to meet Lei Jun’s original delivery deadline of 2024.
Xiaomi’s EVs to unveil in 2024
The first generation of Xiaomi electric vehicles will hit the market in the first half of 2024.
During a meeting on March 5 in China, the CEO of Xiaomi, Lei Jun, provided a status update on Xiaomi EV development. He relayed the message that the project is advancing beyond assumptions. The report that was published by CnEVPost can be found here.
Electric vehicle prototypes have recently finished winter testing, and production is anticipated to begin in the initial half of 2024.
Over 2,300 people are currently employed by Xiaomi Automotive’s research and development team.
Lei, who serves as CEO of the company, focuses approximately half of his time on the company’s EV business. Lei stated that Xiaomi was testing its own self-driving electric vehicle technology during the summer of 2017 and that the company aimed to be at the top of its industry by 2024.
Hesai Technology, based in Palo Alto, California, will provide the automaker’s first electric vehicle model. It has since been revealed to be a sedan and will be equipped with LiDAR technology.
According to the report, images purporting to show the exterior of a possible electric vehicle manufactured by Xiaomi are currently making the rounds on the Chinese social media platform Weibo. These images depict a streamlined body that is, however, covered in camouflage.
Xiaomi’s flagship electric sedan is anticipated to begin at approximately 300,000 yuan (roughly $43,100).
We should expect an official launch from Xiaomi Automotive within the next six months, given that production will begin in another year.
See Also:
- Xiaomi to penetrate the EV industry, MS11 EV photos leaked ahead of launch
- Xiaomi CEO spotted testing first EV offering in China
- BAIC, Huawei collaborate to launch new electric vehicle brand
- China EV sales surged in May, 2022 as lockdowns eased
- CPCA projects NEV sales in China to surge 20% in February from January
