They spread a large amount of false and inaccurate information, which seriously misled the market and disrupted the normal operation of Xiaomi's automotive business, Xiaomi said.

(An image of the Xiaomi EV circulating on Chinese social media.)

The Xiaomi SU7 doesn't seem to be far away from its official release, and company executives are starting to warm up the model.

"I came into car building with an aim to win," Lei Jun, founder, chairman and CEO of Xiaomi, said in a recent interview with state-owned broadcaster CCTV.

For a typical car company, the investment on the first model is usually 300-400 people, with R&D spending of RMB 1 billion ($140 million) to RMB 2 billion, Lei said.

Xiaomi invested 3,400 engineers in its first model, with the entire R&D investment exceeding RMB 10 billion, he said.

($1 = RMB 7.1386)

Xiaomi CEO has high hopes for 1st EV model with heavy R&D investment