Xiaomi is working on its first electric vehicle and its founder and CEO, Lei Jun has confirmed so.
After establishing themselves in the world of gadgets, tech giants Xiaomi has confirmed that it will also enter the EV space. Xiaomi CEO and Founder, Mr Lei Jun said over a Q&A session that their debut vehicle will launch by 2024. Earlier it was projected to launch in 2026.
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The company had already successfully registered its EV unit in Late August with Mr Jun as its head. He further confirmed that the manufacturing unit will be built in Beijing, with a production capacity of 300,000 units per year.
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However, Mr Jun has assured that Xiaomi will essentially remain a phone manufacturing company. Reports also suggest that Xiaomi has already procured investments worth up to $ 10 billion investment for the development of its EVs. The construction of the plant will happen in two phases, and its headquarter will be based out of Beijing Economic and Technological Development Zone.
Xiaomi is not the only phone company that is slated to venture into EV production. Tech-giants Apple is also rumoured to enter this segment. In fact, Apples autonomous vehicle is a possibility in the future. Similarly, Oppo has also registered their interest in developing EVs, but details remain scarce.
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As far as phone companies manufacturing EVs is concerned, OnePlus, Vivo and Oppo had applied for trademark registration. But all of them were Objected , except for RealMe. They got the trademark approval to manufacture electric vehicles, and two-wheelers, here in India.
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