On October 19th, Lei Jun announced at the Xiaomi Investor Conference that Xiaomi’s electric vehicle is expected to start mass production in the first half of 2024.
Not long ago, on September 1st, Xiaomi Automotive was officially registered in Beijing. The first factory also settled in Beijing’s Yizhuang area. Xiaomi’s President, Lin Bin, mentioned during the Q2 earnings call that since opening recruitment for Xiaomi Automotive, they have received over 20,000 resumes and selected 300 people to join the team. Currently, there are 453 members in the R&D team that have already joined the company.
Xiaomi Automotive aims not only to produce its first model in the first half of 2024, but also plans to sell 900,000 cars within three years. If you only look at this target, you may think that Xiaomi is bragging. However, if you look carefully at the talent reserve behind Xiaomi Automotive, you will find that Xiaomi is determined to build cars. For example, they acquired Deepmotion to fill the gap in their intelligent driving technology, and hired Geely Auto’s former director of the research institute, Hu Zhengnan. As the head of the research institute, Hu Zhengnan led the development of multiple models, including BMA, CMA, and SEA of the Jikua vehicle architecture.
There are only three years left, to be honest, it’s not a lot of time left for Xiaomi. However, with Xiaomi’s strong supply chain system and funding, the “first car for young people” is still worth looking forward to.
🔗 Source: 36Kr
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.