In November last year, it was reported that Xiaomi plans to release its first electric car in 2024. Now, new information indicates that Lei Jun, CEO of the Chinese company, is due to unveil a prototype vehicle this August. The executive apparently spent most of his time overseeing the development of the new car.

After the presentation of the prototype in August, the car must pass a series of tests, including tests for driving in winter conditions. Xiaomi’s electric car is expected to start mass production in 2024, with the car hitting the market the same year.

Sources say Xiaomi’s first electric car is being developed by HVST Automobile Design, the same company that designed the concept car. maven from VM Motor. Xiaomi also intends to hire a new public relations director, who will possibly coordinate the marketing campaign related to its new electric car.

Xiaomi officially entered the electric vehicle segment in March 2021 and at that time the company confirmed that it would first invest US$1.5 billion and then an additional US$10 billion over the next 10 years in its new automotive division. Already in September 2021, the company registered the trademark Xiaomi Auto Co., Ltd.

The contract for the construction of a plant and a research and development unit in Yizhuang, China, was signed in November last year. If all goes well, Xiaomi expects to produce around 150,000 vehicles per year initially, and this number is expected to rise to 300,000 vehicles per year once the plant is at full capacity.

Reproduction / Gizmochina

Xiaomi’s R&D division, which specializes in electric vehicles, currently has over 1,000 employees. Sources say that the company intends to release at least four models to serve different segments. Some of them will come with autonomous driving support category L2 and it is expected that they will cost between 150,000 and 200,000 yuan, which will be equivalent to 22,262 and 29,683 US dollars in direct conversion based on the current quote. Other autonomous models category L3 can cost between 200,000 yuan ($29,683) and 300,000 yuan ($44,524). It is important to note that this information have not yet been officially confirmed by Xiaomi and final prices may vary.

It is worth remembering that Xiaomi’s first electric vehicle is not this new car, but the Mi Electric Scooter M365. Learn more about him here.

Source: XiaomiToday, ArenaEV, Gizmochina.

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