Xiaomi, the third largest smartphone manufacturer, will launch in 2024 its first electric car which will be a sedan that will also have a premium version. The company started construction of its first factory in China last year, writes Autocar UK.
XiaomiPhoto: Manuel Esteban, Dreamstime.com
Xiaomi, known for phones and vacuum cleaners, announced in 2021 that it would also produce electric cars and said that investments of over one billion euros would be needed in the new automotive division.
Xiaomi officials said that last year investments were 400 million euros in the Xiaomi Automobile division and the number of R&D employees reached 2,300.
The first electric car will be presented this year and will start to be sold in 2024. It will have a more affordable version with a battery from BYD, but also a more luxurious one with a battery from CATL.
Xiaomi will manufacture the cars at its own factory, without turning to another partner. The head of the company hinted that there will be up to four models in the range, including an SUV that should hit the market in 2025.
Photo source: Dreamstime.com