Key Highlights
- Xiaomi has expanded its portfolio in the IoT segment
- The company is planning to venture into the auto market slowly
- Xiaomi reportedly is bringing the prototype of its first smart electric vehicle
Xiaomi is one of the biggest players in the smartphone market but gradually the Chinese tech giant has expanded its portfolio in the IoT segment as well. Xiaomi now has a wide range of smart TVs, audio accessories, smart wearables, and even laptops. However, the company is also planning to slowly venture into the auto market. Last year, Xiaomi announced an investment of $10 billion dollars into the smart vehicle industry. It seems the company might soon launch the prototype of its first smart electric vehicle soon. Here’s what the fresh development hints at:
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Xiaomi Electric Car Prototype: When Is Its Debut?
Xiaomi as per new reports is bringing the prototype of its first smart electric vehicle next month. This information comes from Sina Tech. The Chinese publication has further reported that Xiaomi’s founder Lei Jun will himself be taking the wraps off the smart electric car in August 2022. The company will be hosting a public launch event for its first Xiaomi electric car.
Sadly, the report doesn’t confirm the exact date for the Xiaomi electric car launch. Only the August 2022 launch timeline for the prototype electric vehicle has been confirmed. Also, it is not yet clear by when Xiaomi plans to go full-fledged with electric car manufacturing.
However, the reports suggest Xiaomi will continue with the test runs with the smart electric car prototype on roads once it’s showcased. It will be made to go through a series of tests going forward before the final version is released for the audience. Xiaomi will have a dedicated facility for smart vehicle manufacturing.
This manufacturing facility is said to have an approximate capacity of manufacturing around 1,50,000 units each year. These figures are estimated for the initial phase. In the future, the company might expand the total capacity to almost double, i.e., around 3,00,000 units. This the brand is said to achieve in the future following the completion of the plant installation.
Reports are rife that Xiaomi will likely introduce as many as four different electric cars for the masses. The upcoming cars will be catering to different segments of consumers. Xiaomi will be launching electric cars for both budgets as well as high-end customers. Mass production is expected to begin by 2024. This is when the official launch of the first Xiaomi smart car is also anticipated.
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