Beijing (ZXZC)- Today, the chairman of Xiaomi, Lei Jun, disclosed that Xiaomi’s automaking progress has far surpassed his anticipations and mass production of vehicles will start in the first half of 2024.

Photo credit: Xiaomi

Lei Jun explained, his automaking endeavor is not attention-seeking. As the EV industry transitioned from mechanical to informational, Xiaomi will be obsolete if not participate alongside its peers. By virtue of the company’s already formed smart ecosystem ranging from smartphones to home appliances and innovative office solutions, the company will be well positioned to integrate vehicle functions.

Xiaomi Auto has completed business registration on September 1st in Yizhuang District, Bejing. The company has received 20,000 resumes and recruited 453 talents in R&D upon establishment.

In addition, a tech blogger revealed in August that Xiaomi’s new energy team is in talks with French auto parts supplier Faurecia for cooperation, further accelerating its vehicle manufacturing process.

Early on, rumor has that Xiaomi will be releasing a new model each year three years after the debut of its first vehicle in 2024 and expects a three-year sales volume of 900,000 vehicles.

Notably, Lei Jun expressed during an interview that his interest in the electric vehicle industry could be dated back to 2013. In the past few years, Lei Jun and Xiaomi conducted numerous investments in a slew of diverse companies in the intelligent electric vehicle field. The adventurist said Xiaomi Automotive would be the last major entrepreneurial project in his life.