The popular and one of the largest smartphone brands in the world, Xiaomi, announced to enter the ever-expanding EV market earlier this year. Last month, we saw Xiaomi founder and CEO Lei Jun confirm that their EV will enter mass-production in 2024 during the company’s Investor Day 2021 conference. Now, a financial report from Xiaomi suggests that the Chinese giant is putting more resources into its EV department and is on track to launch its first electric car in the market in 2024.
According to previous reports, Xiaomi will initially build and sell entry-level electric cars, before moving on to high-end and luxury models at a later stage. Moreover, in the EV department, the Chinese giant will compete against major automakers like Tesla, Porsche, and potentially Apple, Oppo, and OnePlus even.
