In what is fast becoming more of a norm than an exception in the tech segment, Xiaomi too has confirmed it will launch its first electric car in August 2022. The Chinese company had earlier said it will launch its first electric car in 2024. However, as per the latest on this, the company founder Lei Jun is slated to launch the first prototype of its electric car next month itself. This will mark Xiaomi’s first venture in the car segment.
According to reports available on this, Xiaomi will be focussing on testing the car extensively post its first unveiling next month. That would include putting the car to its paces in the winter months and seeing how it performs in snowy conditions. Mass production is expected to begin in 2024 post completion of the trial phase. The company had first officially confirmed back in March 2021 about its intentions to compete in the electric car segment. It has already committed to invest $1.5 billion in the segment initially followed by plowing in another $10 billion over a period of ten years.
Xiaomi is targeting the A+ and B segments as of now and will only launch suitable electric car models in these two segments. The A+ segment car will come with an L2 autonomous driving feature and is expected to be priced in the range of 150,000 and 200,000 Yuan (~$22,230 and ~$29,640). Its upcoming B segment car will in turn have L3 autonomous driving support and is likely to be priced around 200,000 Yuan to 300,000 Yuan (~$29,640 and 44,460). The company has invested in a manufacturing and R&D facility where it employs 1,000 employees and has the capacity to produce around 300,000 cars every year.