Xiaomi has become a tech giant in Pakistan and elsewhere for bringing the latest technologies in smartphones and gadgets. The company has achieved great popularity among the masses in the field. But, the success is not completed yet. Xiaomi is to launch its first Xiaomi electric car in August 2022.
According to the reports, the founder and CEO of this tech-giant company will reveal the concept car to the public. They are busy developing this upcoming EV that could compete well with others existing in the market. As soon as the reveal of this car is done, the company will initiate testing the vehicle. After the testing, Xiaomi will begin mass production of the vehicle in 2024.
Xiaomi Electric Car Launch
Xiaomi had already announced the arrival of an Electric Vehicle in March 2021. So, it has been almost a year that the company has been working on this project. It had a breakthrough in the market with the investment of $1.5 billion through its newly registered enterprise, Xiaomi Auto Co Ltd. Along with initial investment in planning, the company also aims to invest $10 billion in the duration of the next 10 years into the company. According to the reports, the company will have a production facility with 30,000 vehicles per year.
The company has plans to bring supermini and subcompact electric vehicles into the market. The supermini vehicle will have the features of level-2. The Subcompact EV will hone driving features of level 3.
The price of these electric vehicles is going to be a bit high for the market of Pakistan as compared to other vehicles. However, it will target the mass EV market. The supermini will be available at the price of Rs. 4.6 million and the Subcompact EV’s price will be 6.2 million. There are no exact dates about when the final product will be there in the market. However, as the company has shown progress in technology, it will also get success in the EV market.