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 to mass-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
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 recently started 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 the largest smartphone maker in the world earlier this year.
However, with its EV manufacturing plans, Xiaomi will be competing against companies like Tesla, Kia, Porsche, and potentially 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.
