Xiaomi’s electric car project is on track with a team of 500 R&D members

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Xiaomi is gradually increasing the size of its team working on the electric mobility project. The company has released its financial report stating the details of the 13,919 crew working in the R&D department. Out of the lot, the Chinese manufacturer has dedicated 500 members for the development of its first electric car.

Xiaomi Electric Car

Xiaomi‘s electric automobile is slated to enter the EV space by the first half of 2024. However, the company has not revealed the kind of vehicle it is planning to launch in the first move. Meanwhile, the released financial papers surely tell us that the company is slowly taking steps towards its EV goals.

ALSO READ: Five Affordable Electric Cars in India

In August 2021, Xiaomi acquired the Beijing-based autonomous driving startup DeepMotion to strengthen its electric project. The timeline suggests that the mass production of Xiaomi electric vehicles will start in the early months of 2023 and the company could announce the official arrival later in 2024. The smartphone brand has already registered its EV business in its native country undersigned by Lei Jun, founder, Xiaomi.

ALSO READ: Xiaomi 12 and Xiaomi 12X expected launch date revealed

For investment, the company has already allocated 10 billion yuan to its EV subsidiary which should be spent in the 10 following years. Also, Xiaomi will invite outsider investors in the next three years to raise a fund of up to 100 billion yuan. 

The things at Xiaomi seem to be definitely moving and going forward, we can expect more information through leaks, rumors, and official revelations. Incidentally, its competitor Oppo is also reportedly working on an e-scooter and a Nano-esque electric car. 

Sachin Deo VermaSachin Deo Verma
Sachin covers technology news at Smartprix and he also has a keen interest in automobile and electric vehicles. He keenly gains knowledge from various sources to be updated with the latest tech trends. He is also a passionate Potterhead who dabbles in literature, and poetry, and loves to travel.

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