According to a media report, Chinese smartphone giant Xiaomi will unveil the engineering prototype of its first electric car in August 2022. Company founder Lei Jun will reportedly unveil the Xiaomi electric car prototype at a public event next month.
Xiaomi electric car
Table of Content (toc)
In November 2021 it was reported that Xiaomi could launch its first electric car in 2024. Now, according to a report from Sina Tech (via), Xiaomi founder Lei Jun will present the company with the prototype of his first car in the next month (August).
The report claims that Jun spends nearly two-thirds of his time at Xiaomi Auto’s headquarters monitoring the progress of the company’s first car. Following its launch in August, the company will conduct a series of tests, including its first winter test. The company reportedly plans to mass-produce the first Xiaomi car in 2024.
Xiaomi’s first electric car prototype will be designed by HVST Automobile Design. For those who don’t know, it’s the same company that designed WM Motor’s Maven concept car. The report also indicates that the company plans to hire a public relations director, indicating that it could launch a promotional campaign in the coming months.
In March 2021, the company officially confirmed that it would enter the electric vehicle business. He said that he would initially invest $1.5 billion and then invest $10 billion over the next 10 years in his car business. In September 2021, registered Xiaomi Auto Co., Ltd.
In November 2021, it signed an agreement to build the headquarters of Xiaomi Auto and its R&D division in Yizhuang, with the Beijing Economic and Technological Development Area Management Committee. The facility, which employs more than 1,000 employees, is reportedly capable of producing 300,00 cars per year.
Xiaomi is reportedly aiming to launch A+ and B segment cars. The former will come with L2 autonomous driving support and will likely be priced between 150,000 and 200,000 yuan ($22,230 and $29,640). On the other hand, the latter will support L3 autonomous driving and could be priced between 200,000 and 300,000 yuan (29,640 and 44,460 US dollars).
Xiaomi’s first electric car prototype
Once unveiled, the engineering prototype will then undergo a series of tests in the near future. Reports suggest that Xiaomi is accelerating its timeline, with the company aiming for a 2024 mass-production of its first model. The facility will be built in phases with an initial capacity of 1,50,000 units per year, which will double to 3,00,000 units once the plant is completely built. Ahead of its unveiling, an image of the Xiaomi electric car was leaked online recently. The leaked image showcases a long low-slung 4-door sedan model.
Reports also suggest that Xiaomi has plans to introduce 4 electric cars across two different segments. The entry-level offerings are said to be in the price range of US$22,000 – $29,000 and will get L2+ autonomous driving. The higher segment products will be priced between US$29,000 – $44,000 and will come with L3 autonomous driving tech.
Xiaomi announced its plans to enter the global electric car market in 2021. The company even committed a US$10 billion investment towards its new automotive division over the next ten years.