Xiaomi CEO Says Agency to Mass Produce Its Personal Vehicles in H1 2024

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Xiaomi Chief Govt Lei Jun mentioned the Chinese language smartphone maker will mass produce its personal automobiles within the first half of 2024, an organization spokesperson mentioned on Tuesday. The feedback, which have been made at an investor occasion, have been first reported by native media and later confirmed by the corporate.

Zang Ziyuan, a director in Xiaomi’s worldwide advertising division, additionally posted the information on his verified Weibo account.

The date marks the subsequent main goal for the corporate’s fledgling electrical car (EV) division, which Xiaomi formally introduced earlier this yr.

Xiaomi shares jumped 5.4 p.c to HKD 22.50 (roughly Rs. 220), the most important every day share rise since Might 12, extending good points for the third straight session.

In March, Xiaomi mentioned it could decide to investing $10 billion (roughly Rs. 75,075 crores) in a brand new electrical automobile division over the subsequent ten years. The corporate accomplished the enterprise registration of its EV unit in late August.

The corporate has ramped up hiring for the unit, although it has but to disclose if it should produce the automobile independently or by way of partnership with an present carmaker.

© Thomson Reuters 2021


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