Lei Jun: Xiaomi is preparing to start mass production of its cars in the first half of 2024
Despite all the challenges and difficulties facing the global economy, the technology giant Xiaomi's plan to produce the first car in 2024 is moving faster than expected. This was confirmed by Lei Jun, the company's founder, chairman and CEO, who said that the winter test ended successfully and that the team behind the first Xiaomi car is growing rapidly and completing tasks faster than expected.
He said that everything is going according to plan and mass production of Xiaomi's first electric car is likely to start in the first half of 2024. To date, the company has invested more than $433 million in the automotive business, and has an ever-growing team of more than 2,300 people.
It is expected to start a new round of investment this year worth $2.8 billion, and plan to invest another $14 billion in the next five years.
During the company's Investor Day, the CEO also suggested that Xiaomi should look into robotics technology as well because the development of this technology will accelerate the autonomous driving capabilities of cars and also speed up the manufacturing process.