Xiaomi chief govt Lei Jun has reportedly mentioned that the Chinese firm plans to mass-produce its automobiles within the first quarter of 2024. Reuters. This is no surprise because the model had introduced its foray into the sensible electrical automobile enterprise in March this yr.
The firm had confirmed that it might arrange a brand new subsidiary to work on electrical automobiles and associated enterprise. Now, the manager of the Chinese smartphone maker has shared extra particulars on the identical at an investor occasion. Mass manufacturing of its electrical automobiles will begin after two years.
Zhang Zhiyuan, the director of Xiaomi’s worldwide advertising division, additionally shared the newest improvement on his verified Weibo account. China’s electrical automobile market is already crowded and Xiaomi will face rivals corresponding to Nio, Elon Musk’s Tesla and others.
Xiaomi’s entry would be the subsequent main goal for the corporate’s new Electric Vehicle (EV) division. Xiaomi reported that its shares rose about 5.4 p.c after the newest improvement was confirmed.
Earlier this yr, the Chinese firm revealed plans to speculate about 10 billion yuan (about $1.5 billion) over a interval of 10 years. Xiaomi CEO Lei Jun will even function the CEO of the brand new sensible electrical automobile unit.
Xiaomi has but to offer particulars on what sort of electrical automobiles it plans to provide on this new enterprise. It reportedly accomplished enterprise registration of its EV unit in August this yr. Reuters reported that the Chinese smartphone maker has already elevated hiring for the unit, though Xiaomi is but to substantiate whether or not it is going to produce the automotive independently or tie up with an current carmaker.
With inputs from Reuters
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With inputs from TheIndianEXPRESS
