Xiaomi to start mass production of cars in first half of 2024, confirms company CEO

Xiaomi had earlier this year announced its entry into the Electric Vehicle category and now its Chief Executive Officer has confirmed that the company will start production soon.

Xiaomi had earlier this year announced its entry into the Electric Vehicle category and now its Chief Executive Officer has confirmed that the company will start production soon. Xiaomi CEO Lei Jun on Tuesday said that the Chinese smartphone maker will mass produce its own cars in the first half of 2024, Reuters reported. Jun gave insight into Xiaomi's future plans during an investor event.

Zang Ziyuan, a director in Xiaomi's international marketing department, also shared the development on his verified Weibo account. The date marks the next major target for the company's fledgling electric vehicle (EV) division, which Xiaomi formally announced earlier this year. Xiaomi's shares jumped nearly 5.4 per cent following the confirmation.