Xiaomi EV plans to start mass production of electric vehicles in the first half of 2024

Development of Xiaomi’s first electric vehicle is “ahead of schedule”.

On October 19, the CEO of Xiaomi EV (Xiaomi’s automotive division) Lei Jun announced the approximate dates for the mass production of Xiaomi electric vehicles – the first half of 2024.

Xiaomi EV is ahead of schedule. Aiming for mass production in 2024 H1. pic.twitter.com/DKXHdXty2Y

– leijun (@leijun) October 19, 2021

The factory where Xiaomi cars will be produced, build in the city of Yizhuang, southeast of Beijing.

The CEO of Xiaomi did not give any other details besides the fact that the Xiaomi EV is “ahead of schedule”. Nonetheless, Xiaomi’s stock quotes were up more than 5% amid this announcement.

Xiaomi EV plans to start mass production of electric vehicles in the first half of 2024
Xiaomi shares rise after announcement of plans to launch mass production of electric vehicles in the first half of 2024

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In March, Xiaomi’s board of directors approved entry into the automotive market, and in September the company announced the registration of a subsidiary of Xiaomi EV Company Limited with a registered capital of $ 10 billion yuan ($ 1.55 billion). Earlier Xiaomi bought for $ 77.37 million autonomous driving technology developer Deepmotion Tech.

Well, now we know when Xiaomi is going to launch its first light electric vehicle. Now you can start guessing what it will be like. Interestingly, Xiaomi announced a rough timeline the day after Foxconn Electronics (Hon Hai Precision Industry) announced a line of three electric concept cars.

Foxconn unveils three Foxtron electric concepts: Model E sedan, Model C crossover and Model T bus

https://itc.ua/news/foxconn-predstavil-tri-elektricheskih-konczepta-sedan-model-e-krossover-model-c-i-avtobus-model-t/embed/#?secret=8WsNRuf2RZ
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