Xiaomi To Start Mass-Producing Its Own Electric Cars Within A Few Years
Photo 204580898 © Robert309 | Dreamstime.com
Aside from Apple, one other smartphone maker, Xiaomi, is hot on the wheels to deliver its own fleet of car models. Founder Lei Jun announced the news at an investor’s event this week, where he projected mass production for Xiaomi-branded electric vehicles to begin in the first half of 2024.
This isn’t the first time the Chinese tech giant has mentioned its desire to forge into the world of automobiles. Reuters reports that Xiaomi registered the Xiaomi EV, Inc. business just last month, and way back in March, the company outlined that it would commit US$10 billion for EVs over the next decade. Lei will helm the subsidiary.
Following news that drivers would be seeing Xiaomi cars fairly soon, the company’s shares in Hong Kong went up 5.4% to HK$22.50 (US$2.90) on Tuesday, marking the most significant daily percentage rise since May 12.
As it stands, Xiaomi EV has already employed 300 workers, which would speed the process along. However, it’s still unclear if Xiaomi will produce its cars on its own or tap into the resources of a firm with car-building expertise.
[via Reuters, cover photo 204580898 © Robert309 | Dreamstime.com]
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