According to Sina Tech, Xiaomi founder Lei Jun will reveal the prototype of the phone company’s first car at a public event in August.
Following the unveiling, the prototype will begin first winter tests. The upcoming car is designed by HVST Automobile Design, the same company that created the WM Motor Maven concept car.
The company officially entered the EV race at the beginning of last year, committing $10 billion to the development of its automotive division over the next ten years. The Xiaomi Auto manufacturing plant will be built in Yizhuang, which will also house the company’s R&D center.The expected production capacity is 300,000 cars per year once the factory runs at its full speed.
During the first phase, 150,000 vehicles will be manufactured per year, with the first models leaving the site in 2024. The R&D team already has over 1,000 employees and is still growing. Xiaomi intends to launch four different models in the A+ and B segments.
The A+ segment model will be priced between RMB 150,000 and 200,000 ($22,200 to $29,600) and will be compatible with Level 2 (L2) autonomous driving. The B segment vehicles, on the other hand, will range in price from RMB 200,000 to RMB 300,000 ($29,600 to $44,400) and will support L3 autonomous driving technology.