Chinese tech giant Xiaomi is known for its smartphones and other IoT products. The brand has managed to do well in terms of smartphones and AIot. They are now planning to extend their branding to Electric Vehicles and the automobile industry. They may soon release an official report on their upcoming EVs.
Xiaomi’s prototype car releasing soon?
Well, if we go technically, this car will not be the first EV released by the brand. It’s eventually the Xiaomi M365 electric scooter. Going back to the headline, a report hovering online has stated that Lei Jun, Founder and Chairman of Xiaomi’s business group, will unveil the first prototype unit of the upcoming car in a public event which is going to happen this August.
The founder has also given the project his full attention and done his best to ensure the best results from the research. Testing for the EV will start as soon as the prototype is made public. The company has already hired a PR director and has begun working diligently on the upcoming automobile industry.
The company has also promised to invest over $10 billion in its automotive division over the next ten years. In addition to having an R&D centre, the Xiaomi Auto manufacturing facility will be located in Yizhuang. Once the factory is operating at full capacity, 300,000 cars can be produced annually, with 150,000 cars production capacity in the beginning.
Also Read: Xiaomi’s first EV car preponed for a 2024 launch
Xiaomi will launch four different models, with an emphasis on the A+ and B markets. The A+ segment model will support L2 autonomous driving and aim to sell for between RMB 150,000 and 200,000 ($22,200 to $29,600). The B segment vehicles, on the other hand, will support L3 autonomous driving technology and cost between RMB 200,000 and 300,000 ($29,600 and $44,400). The company has high expectations for this sector’s future.
