Xiaomi’s First Electric Car is Near its Global Release.

Since its initial announcement a few years ago, Xiaomi’s entry into the automotive industry has been highly anticipated by industry analysts and customers alike. Recent reports suggest that Xiaomi has made significant progress in developing its first car model.

According to a report from CNMO, several subsidiaries have joined Xiaomi’s car purchase team, with Changchun-based FAW Fuwei Automotive Parts Co., Ltd. specifically mentioned. This indicates that Xiaomi’s supplier network is also improving.

Social media reports suggest that Xiaomi’s car will have a starting price of approximately Rs. 5.7 million. However, Wang Hua, Xiaomi’s PR chief, has denied these reports, indicating that the actual pricing details are yet to be confirmed.

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In May, Xiaomi’s president, Lu Weibing, announced that the car project was progressing well and experiencing accelerated development. Xiaomi’s founder, Lei Jun, even tested the automobile in snowy conditions back in January. Further tests are planned for both summer and winter of this year.

Xiaomi aims to launch its automobile in the first half of 2024. The company’s first-quarter 2023 financial report showcased improvements in smart electric vehicle (EV) technology, providing further hints at the imminent arrival of their car.