Tech giants are rushing to claim a piece of the electric vehicle (EV) pie, and Xiaomi wants to be among the first with their own vehicle.
The company has announced the trial manufacturing of its first EV, a process that has been going on for over a month. Xiaomi revealed that they have been producing approximately 50 cars every week, delivering all prototypes required for road tests as well as ironing out all manufacturing glitches.
Xiaomi’s EVs are almost ready to go on sale, thanks to a recent green light from the National Development and Reform Commission (NDRC). The remaining obstacle is approval from China’s Ministry of Industry and Information Technology (MIIT). Following that, it will be up to Xiaomi to scale up production and determine when to debut its vehicles.
The company has invested about €178 million in their EV business in the second quarter of this year alone, and they have set aside a total of €9 billion for the new automotive division’s first ten years.
So far, their prototype is said to have completed its summer and winter testing. Xiaomi’s president, Lu Weibing, stated that they intend to mass-produce its first EV model by the first half of 2024.