Although Xiaomi has yet to release a car, Lei Jun, the CEO of Xiaomi, stated that the company plans to be one of the most prominent Chinese automakers by 2024.
Although not much information is available about Xiaomi Auto, its results over 500 days of hard work exceed all expectations. He speaks about autonomous driving technologies. The initial investment will be 500 million dollars.
Already, tests of the Xiaomi autopilot are underway. Around 140 cars participate in them. The company employs hundreds of people in a separate technical and scientific centre.
Xiaomi Auto’s authorized capital was 1.5 billion dollars. The company will invest 10 billion dollars over the next 10 years. In 2024, serial production will begin.