Apart from developing high-end smartphones with flagship features, Xiaomi has expanded its reach to various other segments. Earlier this year, the Chinese giant confirmed to enter the electric vehicles (EV) market and committed over $10 billion in the new venture. Now, the CEO, Chairman, and co-founder of Xiaomi, Lei Jun has confirmed that the company will begin mass-producing EVs, starting from the first half of 2024.
However, with its EV manufacturing plans, Xiaomi will be competing against companies like Tesla, Kia, Porsche, and potentially Apple. So, we can expect to hear more from the company about its electric vehicles venture in the coming months. Stay tuned for more developments in the story.
