In November 2021, it was stated that Xiaomi could introduce its first electric vehicle in 2024. Now, a rumor from Sina Tech (via) claims that Xiaomi’s founder Lei Jun will introduce the company’s first automobile prototype in the following month (August).
According to the article, Jun spends nearly two-thirds of his time at the Xiaomi Auto headquarters keeping an eye on the development of the company’s first vehicle. The first Xiaomi automobile is expected to be mass-produced by the company in 2024.
HVST Automobile Design will be the first electric vehicle prototype for Xiaomi. For those who don’t know, it was the same firm that created the Maven concept car for WM Motors. The article also mentions the company’s plans to recruit a PR director, which suggests that a marketing campaign might be launched in the near future.
The corporation formally announced its intention to enter the electric car market in March 2021. It declared that it would make an initial investment of $1.5 billion, followed by a further $10 billion over the next ten years. It will be formally registered as Xiaomi Auto Co., Ltd. in September 2021.
With the Beijing Economic and Technological Development Area Management Committee, it reached an agreement in November 2021 to construct the Xiaomi Auto headquarters and its R&D division in Yizhuang. The factory, which has more than 1,000 staff, can allegedly produce 300,000 automobiles annually.
The launch of A+ and B category vehicles is apparently Xiaomi’s goal. Priced between 150,000 and 200,000 Yuan (about $22,230 and $29,640), the former will include L2 autonomous driving support. While the latter will support L3 autonomous driving and may cost between 200,000 Yuan and 300,000 Yuan (about $29,640 and 44,460), the former will not.