Xiaomi Will Start Mass-Producing Electric Vehicles from 2024, Confirms CEO

Apart from developinghigh-end smartphones with flagship features, Xiaomi hasexpanded its reachtovarious other segments. Earlier this year, the Chinese giantconfirmed to enter the electric vehicles (EV) marketand committed over $10 billion in the new venture. Now, the CEO, Chairman, and co-founder of Xiaomi, Lei Jun has confirmed that the company will begin mass-producing EVs, starting from the first half of 2024.

The Xiaomi CEO made the announcement at the Xiaomi Investor Day conference, which was recently held in Beijing. During the meeting, Lei Jun stated that Xiaomi’s EV plans are well ahead of its schedule and that the company is aiming tomass-produce electric cars from 2024. Following this, Jun took to Twitter to announce the same, which you can check out right below.Xiaomi EV is ahead of schedule. Aiming for mass production in 2024 H1.pic.twitter.com/DKXHdXty2Y— leijun (@leijun)October 19, 2021

Xiaomi EV is ahead of schedule. Aiming for mass production in 2024 H1.pic.twitter.com/DKXHdXty2Y— leijun (@leijun)October 19, 2021

Although not much is known about what kind of electric cars the company will produce, Xiaomi will initially start working on an entry-level model, as per reports. It will start producing more luxurious and high-end EV models at a later stage.

The Chinese giant, which recentlystarted to transition as a global brand, currently competes with market leaders like Apple and Samsung in the smartphone segment. In fact, Xiaomi dethroned Samsung to become thelargest smartphone maker in the worldearlier this year.

However, with its EV manufacturing plans, Xiaomi will be competing against companies like Tesla,Kia,Porsche, andpotentially Apple. So, we can expect to hear more from the company about its electric vehicles venture in the coming months. Stay tuned for more developments in the story.

Dwaipayan Sengupta

A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.

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