Chinese technology giant Xiaomi has reportedly finished building the first engineering prototype of its first electric vehicle that’s planned for a launch in 2024.
Xiaomi has been working on an EV for quite some time and a new report out of China suggests that the prototype was finished on September 28. However, the company hasn’t confirmed if this news is true or not.
More than $10 billion is being invested in the company’s plans to establish itself as a serious player in the electric vehicle space. It has more than 1,000 people working on the project and plans to soon begin construction of a factory in Beijing with the capacity to build 300,000 vehicles annually.
Read Also: Xiaomi To Build EV Plant In Beijing With 300,000-Unit Annual Capacity
The founder and chief executive of Xiaomi, Lei Jun, has confirmed that the vehicle will feature advanced autonomous driving technologies and that testing of these systems has already commenced. The company has around 144 autonomous prototypes testing throughout China, some of which include BMW 5-Series and BYD Han models equipped with its suite of driving sensors, Pan Daily reports. The system will use LiDAR technology.
Xiaomi’s first electric vehicle is widely expected to be a sedan that could be offered in two distinct configurations. The first of these could utilize a 400-volt platform while the flagship model may use an 800-volt architecture and be offered with BYD’s innovative Blade-style battery and CATL’s Kirin battery.
In August, Lei Jun described Xiaomi’s entry into the electric vehicle market as a “forced choice” driven by the fusion of the automotive industry and consumer electronics.
“Xiaomi has tens of millions of loyal fans and users in China, and as long as 1% of them are willing to give us a chance, Xiaomi‘s auto business can get a fantastic start,” Lei Jun described in his recently-released book.
