Xiaomi is ready to unveil the prototype of its first car - the media

Early last year, Xiaomi officially announced its entry into the car market. A lot of time has passed, and it looks like the Chinese company is ready to show off its development.

What will be shown and when?

According to media reports, Xiaomi will hold a presentation in August to unveil a prototype of its first electric car. The team behind the upcoming car comes from HVST Automobile Design, which is responsible for WM Motor's Maven concept car.

But for now, it will only be a prototype, not the final version. After the presentation, the prototype will begin road tests, including the first winter tests. Also a marketing campaign will begin: Xiaomi has already hired a PR director.

Recall, the Chinese manufacturer has allocated $10 billion over the next ten years to develop its automotive division. The Xiaomi Auto plant will be built in Yizhuang, where the company will also have a research and development center. The expected production capacity is 300,000 cars per year when the plant is operating at full capacity. Initially, 150,000 cars per year will be produced, and the first models will leave the site in 2024. The research and development team already has more than 1,000 employees, and it continues to grow.

Xiaomi plans to release four different models covering the A+ and B segments. The A+ segment model will be priced between $22,200 and $29,600 and will have L2 autonomous driving support. The B segment cars will support L3 autonomous driving technology and will be priced between $29,600 and $44,400.

Source: ArenaEV