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Xiaomi says it will mass produce EVs by 2024

In March, Xiaomi announced that it would invest $ 10 billion in the new electric vehicle sector over the next decade.

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Xiaomi CEO Lei Jun revealed that the world’s third-largest smartphone maker is moving into the automotive sector earlier than planned and will begin mass production of EVs in the first half of 2024. These comments were made at an investor event. But then a Chinese billionaire also tweeted his thoughts. “The Xiaomi EV is ahead of schedule. We are aiming for mass production in the first half of 2024,” he said on a social media platform. His executives also went to China’s social media platform to check the news. Xiaomi’s marketing director Zang Ziyuan also posted this news on a verified Weibo account.

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In March, Xiaomi announced that it would invest $ 10 billion in the new electric vehicle sector over the next decade. The company completed registration of its electric vehicle business in August and has already increased the adoption of units, but it is not clear whether it will manufacture the vehicle or partner with someone.

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Foxconn, a close partner in smartphone manufacturing, has already announced its own electric vehicle venture, and given that manufacturing isn’t Xiaomi’s specialty, this is a likely partnership.

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Xiaomi says it will mass produce EVs by 2024

Source link Xiaomi says it will mass produce EVs by 2024

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