Serial production of electric cars from Xiaomi - is it worth waiting for a collapse in market prices?

The dynamically developing Xiaomi concern announced its ambitious intentions to launch the mass production of electric vehicles in early 2024. This became known at a press conference of the founder of the company, Lei Jun.


The Tokyo Stock Exchange was the first to react to the announcement - Xiaomi stock quotes rose by more than 5% before noon. It is noteworthy that the company's March announcement of a $10 billion investment in electric cars (plans were announced for a ten-year development period) did not evoke such a response. The fact is that from the side of Xiaomi Inc. at the end of August there was a takeover of Deepmotion Tech. The company specialized in the development of technologies for autopilot transport systems.

On its basis, on September 1, a subsidiary of the concern, Xiaomi EV, was created. The amount of the authorized capital is about 1,33 billion US dollars or 10 billion yuan. According to Lei Jun, CEO of the concern, at the time of the press conference (October 19), the staff of the new branch already has 300 highly qualified specialists.



Thus, there is no doubt about the determination of Xiaomi to follow in the wake of modern trends. We can only cautiously hope that the high density of competition in the short term will make electric vehicles the most affordable mode of transport for the end consumer. Among the zero-emission models, the P7 electric car from Xiaomi is already positioned by many analysts as one of the most dangerous Tesla competitors.