The first electric car with automatic driving system will be released in 2024. It is said that Xiaomi, which has shifted its focus from the smartphone business to electric car production, will introduce an EV with an automatic driving system to the market in 2024.
According to Xiaomi CEO Lejan, the company is producing a four-door sedan with self-driving technology. This car, which could enter the market in 2024, is planned to be produced at Xiaomi’s own car factory in China. In the first half of 2024, the company’s first autonomous EV released, and three more models may introduce in the next three years.
In March of this year, the company announced its plan to manufacture EVs. It said that the trademark registration for the car company business completed at the beginning of the month. Xiaomi has also announced. Therefore, it will invest $10 billion (around €8.5 billion) in the electric car business over the next 10 years.
So, Xiaomi’s electric car company is also reportedly hoping to sell 900,000 electric cars in the first three years. According to CINNOResearch, a Chinese car market research firm, Xiaomi has two long-term plans for vehicle production. The first way is to buy an existing car factory. And the other way is to build your own car factory.
Xiaomi involved in car manufacturing since March 2022. He said that he is discussing with various companies, including importers and investment companies. Just a few weeks ago, the company announced the purchase of Beijing-based self-driving technology startup Deepmotion Tech for $77 million. Xiaomi is also looking to buy a car business invested in by Hong Kong real estate conglomerate Evergrande. It is heavily indebted.
Nio, Evergrande’s car business A number of companies, including Xpeng and Xiaomi. They are approaching the acquisition, with Xiaomi said to be the closest. According to a Reuters report, Xiaomi is also in talks with Great Wall Motor. In the smartphone world, Xiaomi is partnering with Foxconn, which manufactures iPhones. Taiwanese contract factory Foxconn itself has established an electric vehicle platform under the MIH name. So, it has also started eMobility contract. It is manufacturing with Chinese electric car company Geely.
Famous as a smartphone company. Therefore, Xiaomi will see as an electric car company in the next few years. Xiaomi introduced the Xiaomi M1 electric car prototype.