Xiaomi auto in preparation by mid-2024

Everyone knows Xiaomi for the large number of technological products it markets, but apparently the Chinese company is not entirely satisfied, and has an important unfinished business that according to its CEO hopes to be able to satisfy it during the first half of 2024.

That unfinished business is as simple as it is ambitious, market your car, although not specified most likely, with an electric motor. In fact, even if this news may seem “strange”, Xiaomi is not the first technology company to be attracted to the automotive sector. In fact, Apple itself did the same years ago, although it is a very complicated project which obviously requires a process of preparation and development which at the moment is far from being achieved in a short time.

Lei Jun, CEO of Xiaomi, said in this sense to the Reuters agency that the mass production phase of his car will begin in the first half of 2024. If this deadline is met, the first units of this hypothetical car they should begin to be available in the second half of 2024. We do not have more details about it, but we can expect it to be an electric vehicle, and that it represents an important bet on a technological level.

Xiaomi, the announcement of the production of its own car pleased the shareholders

After this announcement, the Chinese company’s shares are increased by 5.4%, which means it has been very well received by shareholders. The Chinese company, for its part, commented that it would be committed to invest $ 10 billion in a new division focused on electric cars, a project they will carry out over the next ten years.

One of the many concepts of the next Xiaomi car

Even if the CEO’s words now put an end to the many rumors that have been going on for months, it is also normal to ask yourself a few questions. Of all those that can come to mind, the most important is related to the mass production of this first electric car: Will Xiaomi make it on its own or through a partnership with a third party? Probably the most profitable (and probable) thing for Xiaomi would be to follow the second path. Nor would it be the first tech company to do so, as Apple turned to Hyundai for its car.

Now we just have to wait to see how this mission statement will evolve, but one thing is clear: the automotive industry is about to undergo a major change, not just for technicization and electrification , but also for the entry into the market of players such as Apple and Xiaomi.