Xiaomi to Mass-produce EVs in the First Half of 2024

Automotive Author: 苑晶铭 Editor: 张宇喆 Oct 19, 2021 12:02 PM (GMT+8)

Xiaomi Auto completed business registration on September 1st in Yizhuang District, Bejing. The company has received 20,000 resumes and recruited 453 talents in R&D since its establishment.

Xiaomi Automobile Co., Ltd. was incorporated

Lei Jun, the founder of Xiaomi, revealed that the firm's automobile arm was registered in Beijing on September 1, and its first factory will be located in Yizhuang, Beijing. Previously, it was reported that Xiaomi group would hold a general meeting of shareholders on October 25 to approve the adoption of Xiaomi EV's equity incentive plan, with a planned authorization limit of 1 billion shares, accounting for 10% of the total issued shares.

Lei Jun said that electric vehicles have changed from the machinery industry to the information industry. In addition, some peers are already doing it. If Xiaomi does not do it, it will fall behind. In addition, Xiaomi belongs to a full intelligent ecology from smartphones to smart homes and smart offices. Integrating with electric vehicles will have strong expansibility.

At the beginning of 2021, Lei Jun announced that Xiaomi had officially entered the intelligent electric vehicle industry. At that time, Lei said that he was very clear about the risks of the automobile industry, and would take 3-5 years for an investment of CNY 10 billion to take effect.