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Xiaomi plans to manufacture its own cars by 2024

Xiaomi plans to enter the auto market, and wants to offer electric cars by early 2024.

By Kajoli Anand Puri | Published 22 Oct 2021 17:46 IST
HIGHLIGHTS
  • Xiaomi plans to manufacture electric cars.

  • A company spokesperson said that they plan to start selling their cars by 2024.

  • Nothing else has been revealed regarding how the company plans to do this.

Xiaomi plans to manufacture its own cars by 2024
Xiaomi plans to manufacture its own cars by 2024

A company spokesperson from Xiaomi confirmed that Chief Executive Lei Jun has plans to manufacture and offer cars by 2024. These comments were made internally during an investor meeting, and have only been confirmed as of yesterday.

Xiaomi Wants to Join the EV Market

What makes this news interesting is that Xiaomi doesn’t plan to manufacture regular cars. Instead, it wants to enter the EV market and offer eco-friendly vehicles for those who are conscious of their carbon footprint.

Xiaomi Wants to Join the EV Market

Earlier this year, in March, the company committed to investing $10 billion ( which is approximately Rs. 75,075 crores) in its new electric car division. The amount would be sanctioned for the next ten years. The company also registered its EV unit in AUgust, showing that it is quite serious about the endeavor. 

While Xiaomi has begun mass hiring for its new unit, it is yet to confirm whether it will be manufacturing its cars independently or partnering with an existing auto manufacturer.

Xiaomi Wants to Join the EV Market

Will Xiaomi’s cars be affordable?

Xiaomi disrupted the smartphone market by offering high-quality smartphones at reasonable prices at a time when the market was filled with big-name brands that charged an arm and a leg for decent smartphones. One can only hope that this will also be the case with its EV offerings, as the biggest challenge in consumer adoption today is the high cost of these vehicles.

In India, Ola has paved the way for wider consumer adoption by offering EV scooters that are priced competitively when compared with regular scooters. Its first wave of sales saw the scooters sell out, and the company has announced its second wave of sales for next month. 

Also Read: Xiaomi Redmi Note 11, Note 11 Pro price, specifications leak ahead of launch: All you need to know

Kajoli Anand Puri
Kajoli Anand Puri

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About Me: Kajoli is a tech-enthusiast with a soft-spot for smart kitchen and home appliances. She loves exploring gadgets and gizmos that are designed to make life simpler, but also secretly fears a world run by AI. Oh wait, we’re already there. Read More

Tags:
xiaomi ev car electric vehicle electric car Lei Jun Xiaomi CEO xiaomi news
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