Xiaomi Electric Car Arrival is Expected in 2024

The first Xiaomi Electric Car is underway. Chinese tech company announced an Electric car subsidiary in March this year. Now the CEO confirms that the Electric Vehicle production is on track. Lei Jun, CEO Xiaomi, further says that the mass production of first Xiaomi EV will begin in the first half of 2024.

After the rising demand in Electric cars, Technology firms are slowly but steadily expanding into the automotive market. In a few years, some of them will be direct competitors to traditional automakers. Xiaomi is currently the World�s third largest smartphone manufacturer.

Apart from mobiles, it also produces powerhouse, smart home devices, appliances, electric bicycles, mopeds, and some lifestyle goods as well. It recently revealed Xiaomi Smart Glasses. The company�s announcement of launching it�s first EV is not surprising. Since Apple, is also developing an Electric car for years. But unlike Xiaomi, the Cupertino giant is yet to announce a roadmap for it�s EV.

It is worth noting that China has the world’s largest EV industry. With over 300 manufacturers, the government is still struggling to consolidate smaller vendors in order to manage overcapacity. Despite a plethora of EV companies, China lacks a dominant manufacturer to rally behind. If Xiaomi Electric Car is successful, it can become China’s Tesla.

Xiaomi announced last month that it had completed the registration of its electric vehicle division. According to reports, the company will invest up to $10 billion in the division by the end of the decade, which is roughly half of what Tesla budgeted for one gigafactory in 2014. Xiaomi currently sells electric scooters, though not through its electric vehicle division.

The Chinese electronic giant has also acquired DeepMotion. It is a company that works on self-driving technologies, and has been aggressively hiring employees for its new venture. Currently, Xiaomi EV devision has about 300 employees. Additionally, Geometrical Pal and Zongmu, both of which develop self-driving software, have also received funding from Xiaomi recently.

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Sayem Siddiqui
Sayem Siddiquihttps://hamariweb.com/
Sayem Nadeem Siddiqui is a Web Content Writer at Hamariweb.com and an avid learner with a voracious appetite for knowledge. He uses this curiosity, combined with experiences, to write digital content in a variety of niches.

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