After the publication of the quarterly reports of the Chinese company Xiaomi, it has become knownthat in the previous three months had spent about 116 million dollars on the development of innovative activities, including electric vehicles. This summer, the first prototype electric car of this brand was seen, which should debut on the market in the first half of 2024. The founder of the company is convinced that Xiaomi will enter the top five market leaders and be able to produce up to 10 million electric vehicles a year.
Image source: Xiaomi
From the pages of the Weibo social network, according to the publication CarNewsChina, the company’s founder, Lei Jun, expressed confidence that as the electric vehicle market matures, up to 80 percent of its capacity can be divided among the top five manufacturers. For this reason, the only path to success for Xiaomi itself is the ability to produce at least 10 million electric vehicles annually. Recall that Tesla, considered one of the pioneers of the segment, plans to produce up to 20 million electric vehicles a year by the end of the decade, so the stakes in this business are quite high.
Xiaomi announced its intentions to enter the electric vehicle market in March 2021, and by September of the same year, the Xiaomi Automobile Division was established with a capital of US$1.4 billion in mid-2024. Judging from the appearance of the first prototype, it will be a sedan or liftback with a streamlined body shape.
In Chinese social networks, a rumor recently spread that at the end of September Xiaomi released another prototype electric vehicle under the symbol MS11, which is equipped with a 354 hp power plant. and is built on an 800-volt architecture that allows for faster recharging of the traction battery.
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