Xiaomi expects to begin mass production of electric vehicles in H1 2024

At the Xiaomi Investor Day earlier today in China, Lei Jun, Founder, Chairman and CEO confirmed that the company is looking to start mass production of its electric vehicles in the first half of 2024, earlier than than schedule that was announced earlier this year.

In addition, Lei Jun also revealed that Xiaomi Motors had been registered in Beijing on September 1, and its first factory will be located in Yizhuang, Beijing.

Xiaomi confirmed its entry into smart electric vehicle business back in March this year. At that time, the company said that its EV business will be operated under a Xiaomi wholly-owned subsidiary. It also confirmed an initial investment of 10 billion yuan, and over the course of the next 10 years it is planning to invest an estimated US$ 10 billion in total.

Xiaomi’s first electric car could be an entry-level model, and it might compete with high-end models after releasing few models in the budget segment. We should know more details about Xiaomi’s EV plans in the coming months.


Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram