Lei Jun, CEO of Xiaomi, has confirmed that will start mass producing their own cars in the first half of 2024. This was stated yesterday on the day of the investor Jun, indicating that the electric vehicle is one of the main objectives of the company. Following the announcement, Xiaomi shares rose 5.4%, the highest daily percentage increase since May 12 this year.
10,000 million dollars of investment to compete with Tesla and the rest of rivals
The electric vehicle will be one of the big bets in the next 10 years. Lei Jun, CEO of the company, confirm mass production by 2024, although it has not given details about the electric car itself. According to Chinese sources, Xiaomi has been considering the electric car since 2013, having already launched proposals under the Redmi brand in China (which was nothing more than a renowned Chinese vehicle and with MIUI).
Xiaomi’s car will not be another renowned vehicle: its own technology and an ambitious proposal are expected to compete in electric mobility
But Xiaomi’s car will be different, since its own design and technology is expected. Xiaomi’s investment for this project is 10 billion dollars for the next 10 years And, according to Reuters, it will be manufactured at a Great Wall Motor Company plant in Hong Kong.
There are no details yet on this vehicle, although if you want to compete with rivals like the Model 3 or the BWM i4 It must be a sports saloon. A few months ago, Jun already dropped that it would be an SUV or a Sedan, fairly open statement.
In the same way, given that the Redmi car opted for MIUI, it is to be expected that the software is a mainstay in Xiaomi’s electric car, with its own operating system or another adapted MIUI version. Be that as it may, we will see mass production of Xiaomi’s electric car in the first half of 2024.