Xiaomi CEO Says Firm to Mass Produce Its Own Cars in First Half of 2024

Xiaomi Chief Government Lei Jun stated the Chinese language smartphone maker will mass produce its personal automobiles within the first half of 2024, an organization spokesperson stated on Tuesday. The feedback, which have been made at an investor occasion, have been first reported by native media and later confirmed by the corporate.

Zang Ziyuan, a director in Xiaomi’s worldwide advertising and marketing division, additionally posted the information on his verified Weibo account.

The date marks the subsequent main goal for the corporate’s fledgling electrical car (EV) division, which Xiaomi formally introduced earlier this 12 months.

Xiaomi shares jumped 5.4 % to HKD 22.50 (roughly Rs. 220), the most important every day proportion rise since Could 12, extending positive factors for the third straight session.

In March, Xiaomi stated it might decide to investing $10 billion (roughly Rs. 75,075 crores) in a brand new electrical automotive division over the subsequent ten years. The corporate accomplished the enterprise registration of its EV unit in late August.

The corporate has ramped up hiring for the unit, although it has but to disclose if it can produce the automotive independently or through partnership with an present carmaker.

© Thomson Reuters 2021

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