Xiaomi is seriously developing electric cars as a new business area. Even the founder of Xiaomi, Lei Jun, has leaked when their car will be mass produced.
As quoted by us from Gizmo China, Lei Jun revealed the latest developments in the Xiaomi electric car project. He claims his progress has exceeded expectations so that mass production may be carried out in the not too distant future.
The winter trials have been so successful that Xiaomi's electric car may be made available to the public in the first half of 2023. "Xiaomi's car manufacturing progress has exceeded expectations. Mass production will be achieved in the first half of 2024," he said.
Currently, Lei Jun is really focused on making Xiaomi electric vehicles with an investment value of USD 433 million. As many as 2,300 people work in its research and development sector.
The head office which also handles sales is in Yizhuang, Beijing. In addition, Xiaomi also plans to build an electric vehicle factory that will be able to produce up to hundreds of thousands of cars.
According to leaks, Xiaomi's electric car will take the form of a medium-size sedan with a sporty design. Lei Jun previously said Xiaomi would set high targets in the electric vehicle industry.
"I believe that the world's top 5 brands will hold more than 80% market share when the electric car industry reaches maturity," he added some time ago.
"In other words, the only way for us to succeed is to be among the top 5 and ship more than 10 million cars every year. The competition will be brutal," concluded Lei Jun.