Xiaomi CEO and Founder Lei Jun will unveil a prototype of the company’s first electric car in August.
It is noteworthy that after the presentation of the prototype, road tests will begin, including the first winter test of the car. The team behind the electric vehicle’s development is part of Shanghai-based HVST Automobile Design, which also worked on the Weltmeister Maven concept car.
Xiaomi is known to be preparing to launch its car brand and has already appointed a PR Manager.
The marketing campaign of the new brand will be launched after the unveiling of the prototype.
Last year, Xiaomi allocated $10 billion to develop the automotive division.
A Xiaomi car manufacturing plant will be built in Yizhuang, where the company will also have a research and development center.
The expected production capacity will be 300,000 cars per year.
However, at the initial stage, about 150 thousand cars will be produced per year, and the first models will go on sale in 2024.
The R&D team of the Automotive Division now has more than a thousand employees and continues to grow. To date, the company plans to release 4 different models. With a value of 150 to 300 thousand yuan.
