Tech

Xiaomi to mass produce its own electric cars by 2024

Lei Jun, CEO of Xiaomi said the Chinese smartphone maker will mass produce its own cars in the first half of 2024, a company spokesperson said on Tuesday.

The comments, which were made at an investor event, were first reported by local media and later confirmed by the company.

Zang Ziyuan, director of Xiaomi’s international marketing department, also posted the news on his verified Weibo account.

The date marks the next major goal for the company’s new electric vehicle division, which Xiaomi officially announced earlier this year.

Xiaomi shares jumped 5.4% to HK $ 22.50, the biggest daily percentage increase since May 12, extending gains for the third session in a row.

In March, Xiaomi announced plans to invest $ 10 billion in a new electric car division over the next 10 years. The company completed the registration of its EV unit at the end of August.

The company has stepped up hiring for the unit, although it has yet to reveal whether it will produce the car independently or through a partnership with an existing automaker. – Reported by Josh Horwitz and Yilei Sun, (c) 2021 Reuters

Xiaomi to mass produce its own electric cars by 2024

Source link Xiaomi to mass produce its own electric cars by 2024

Back to top button