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Earlier this year, Xiaomi announced its plans to hit the smart electric vehicle (EV) industry. To establish is decision of launching its own EVs, the Chinese tech giant unveiled the Xiaomi EV Company Limited, the vehicle through which it hopes to achieve the dream of manufacturing electric vehicles.

Xiaomi Car launching in 2024

Apparently, in a bid to add more vigor to its drive, the company has now unveiled its second car company known as Xiaomi Automobile Technology Co., Ltd. The company which is registered in Beijing is reported to have a registered capital of 1 billion yuan and the business scope includes new energy vehicles, vehicle manufacturing, and technology development.

The registered capital is one tenth that of the Xiaomi Automobile Co., Ltd which was kickstarted in September with a registered capital of 10 billion yuan. We can’t say for sure what the scope of the business will be like but we expect this new company to handle peripherals and accessories while the first company will be responsible for the actual vehicle manufacture.

XIAOMI ELECTRIC CAR M1 RENDERS 3

Xiaomi’s founder Lei Jun recently disclosed that the brand was expected to start mass producing its own EVs in the first half of 2024. The company seems to have got all aspects of the emerging EV business figured out as Xiaomi’s exec Lu Weibing disclosed that the Xiaomi Home stores will be responsible for the sales and after-sale services in the future.

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