Chinese tech group Xiaomi will begin mass production of its first electric cars in 2024, company founder Lei Jun announced Monday at the annual session of China’s National People’s Congress (legislative body).
Lei Jun explained at a plenary meeting of the Beijing delegation that progress in the production of Xiaomi’s car “exceeded expectations”.
“The vehicle has successfully passed winter testing and is expected to be launched next year,” said Lei Jun, who is also an APN delegate, adding that series production will begin “in the first half of 2024.”
The businessman said he spends “half his time” on the auto business, in which he has invested more than 3,000 million yuan (408 million euros) by 2022. Xiaomi’s research and development team dedicated to the production of an electric car already has 2,300 people.
In March 2021, the technology company announced its entry into the electric vehicle sector with the creation of a subsidiary, led by Lei Jun himself, in an investment of US$10 billion (€8.515 million), which will be expanded in the coming years. done. 10 years.
Xiaomi already produces some electric vehicles, such as motorcycles.
China has made progress in recent years with the Made in China 2025 initiative, which aims to transform the country into a technology powerhouse, with capabilities in high-value sectors including artificial intelligence, renewable energy, robotics and electric cars.
The Chinese carmaker BYD is already the world leader in sales of electric vehicles, overtaking the American Tesla last year.
Source: DN
