You heard it! Xiaomi is actually making an investment to electric vehicles.
Xiaomi announced that their first prototypes for an electric car concept will be revealed next month. The company has been planning ambitiously about its EV projects since the Xiaomi Mi 11 series release in China. While this isn’t their first-ever EV manufactured (that would go to the Xiaomi M365 electric scooter), it will be the first electric car the company will manufacture. That’s a huge milestone for a company primarily known for its technological lifestyle and smartphone products.
The car is designed by HVST Automobile. The company that made the Maven Concept Car for WM motors, another Chinese electric car company. The prototype is an actual working road vehicle with an engine, motors, and fuel tank. It could take on the roads and we could possibly see a potential PR here.
November last year saw Xiaomi cooperating with several EV companies such as the Beijing Economic and Technological Development Area Management Committee which would help them establish the needed resources to kick off its EV business.
Xiaomi will also establish an R&D center in Yizhuang to further improve the car taking feedback into account. The final product is expected to be revealed next year.
The plant will have two phases which would require the company to manufacture at least 150,000 units in these phases. As mentioned, mass production should start in 2024.