It’s no secret that Xiaomi wants to bet big on the electric car market, and they want to be the main manufacturer of this type of vehicle in just a few months, as they stated in their most recent investor meeting. Xiaomi recently held a meeting with its investors, during which the CEO, Lei Junhas, discussed the current state of the company’s electric car, as well as other issues.
According to the CEO, the R&D team behind Xiaomi’s electric cars has grown to over 2,300 members in recent months, and the company plans to begin mass-producing electric vehicles in the first quarter of 2024.
They do, however, point out that everything has exceeded expectations, and real-world testing began as early as last December. If you recall, it was revealed at the end of last year that Xiaomi was testing its new electric car in extreme cold conditions, even on snow, and that Lei Jun was in command of one of these test vehicles.
The executive has stated that more than 140 vehicles will be tested throughout China in this first phase of the autonomous driving initiative, and that they hope to establish themselves as leaders in the electric car industry by 2024.
In terms of the profitability of this new market niche, in addition to hardware gains, Xiaomi is concerned with software gains. Although cars could previously integrate sales, after-sales service, and charging, he believes that in the future, electric cars will be able to integrate an increasing number of services.
Its also reported that the company have established their own automobile base in Yizhuang, Beijing, and that they intend to construct a complete vehicle factory capable of producing 300,000 cars per year. We won’t have to wait long to see these vehicles on Chinese roads, as the company plans to begin mass production in early 2024.
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