The timetable for the mass production of Xiaomi car is determined. Xiaomi Home may also sell cars

On today’s Xiaomi Investor Day, Xiaomi’s chairman and CEO, and also the CEO of Xiaomi Motors, Lei Jun revealed that it is expected that Xiaomi car will be officially mass-produced in the first half of 2024.

Since the announcement of its entry into the electric vehicle field at the beginning of this year, Xiaomi Automobile has ushered in a series of substantial progress this year, including company registration, team formation, investment and mergers and acquisitions. Today, Xiaomi’s mass production schedule is finally clear.

Lei Jun said frankly that the progress of Xiaomi’s car and team’s work has far exceeded his expectations. As a newbie in the automotive industry, the three-year mass production is indeed making rapid progress. It is reported that after mass production, Lei Jun’s goal is to sell 100,000 units in the first year, and the total sales volume in the three years after mass production will reach 900,000 units.

Building a car is a technical job, and to sell a car, you have to rely on Xiaomi’s offline channel: Xiaomi Home. Today, Lu Weibing, President of Xiaomi China, said on Weibo, “Just think of a car in the middle of Xiaomi’s home, and it’s beautiful.” There is no doubt that when Xiaomi cars are mass-produced, it will also be the day when Xiaomi’s home will sell cars.

Team, technology, factory molding Mass production in 2024

In March of this year, Lei Jun officially announced the news of Xiaomi’s entry into the electric vehicle industry. The progress of related matters has also sapped the appetite of the outside world, and there have been multiple versions about the location of the headquarters.

After nearly half a year, on September 1 this year, Xiaomi Automobile was finally officially registered. The company was named Xiaomi Automobile Co., Ltd. with a registered capital of 10 billion. Lei Jun personally served as the legal representative and CEO.

It is worth noting that the company’s registered place is Beijing, and Shanghai, Wuhan, Hefei and other places have lost in the battle for Xiaomi’s car headquarters. Lei Jun revealed on today’s Investor Day that the first factory of Xiaomi Automobile will also be located in Yizhuang. This means that Xiaomi will take the route of self-developed and self-produced, and of course it does not rule out part of the production capacity will be handed over to the foundry.

The Xiaomi car team has also basically taken shape. At the time of Xiaomi car registration, Lei Jun once exposed the executive team of Xiaomi Group and Xiaomi car. Directly related to Xiaomi cars include Li Xiaoshuang, the former general manager of major appliances, Yu Kai, the former deputy chief of staff, and Ye Hangjun, the current chairman of the technical committee.

Previously, there were media reports that Xiaomi set up a car preparation team: Li Xiaoshuang, the former general manager of major home appliances, was mainly responsible for the preparation of the vehicle, supply chain and factory; the former deputy chief of staff Yu Kai was responsible for the preparation of the cockpit business; the autonomous driving business belonged to In the Xiaomi Technical Committee, the chairman of the technical committee Ye Hangjun is responsible for the preparations.

Just a few days ago, Xiaomi just announced the appointment of Li Xiaoshuang as the vice president of Xiaomi Automobile, responsible for product, supply chain and market-related work, and reporting to Xiaomi Automobile CEO Lei Jun. Li Xiaoshuang will undoubtedly become one of the key roles in Xiaomi’s car building.

Lei Jun revealed on the Investor Day today that the progress of Xiaomi’s car and team’s work has far exceeded his expectations. In terms of the team, 20,000 resumes have been received and a R&D team of 453 people has been received. In terms of mass production, it is expected that Xiaomi will be officially mass-produced in the first half of 2024.

In terms of relevant technical preparations, Xiaomi adopts a dual model of self-research + investment and mergers and acquisitions. In the most critical autonomous driving, Xiaomi was relatively weak before. In July of this year, Lei Jun personally recruited talents for Xiaomi’s autonomous driving department on Weibo. It is said that the first batch of 500 autonomous driving technology elites, self-developed industry-leading L4 intelligent driving capabilities, and support for multiple offices across the country; in August this year, Xiaomi announced the second quarter financial report at the same time that it will provide 77.37 million U.S. dollars (approximately) (RMB 500 million) to fully acquire DeepMotion, an autonomous driving technology company.

Lei Jun stated on the Investor Day that Xiaomi has three major advantages in making cars: Xiaomi model (technology + efficiency), Xiaomi brand and user accumulation, and full intelligent ecology.

The Xiaomi model is what Lei Jun takes seriously. In his speech, he believed that there are two main reasons for the competition between Xiaomi and Huawei/Honor and the rapid growth in the past 11 years: one is technology-based, Xiaomi has made rapid progress in the technical field; the other is the efficiency revolution. He is full of confidence in the development of offline Xiaomi Home.

Today, after Lei Jun posted on Weibo about the official mass production of Xiaomi cars in the first half of 2024, Lu Weibing forwarded it and said: Think about putting a car in the middle of the Xiaomi home and it’s beautiful.

In fact, Huawei, which entered the auto industry earlier than Xiaomi, has already tried to sell cars in offline stores. With the support of the Huawei brand and offline store traffic, Xiaokang Celes, which cooperates with Huawei, has achieved rapid growth in sales.

However, Huawei’s rapid progress in selling cars also has the background of the lack of cores in mobile phones. Due to the cut-off of chip supply, Huawei’s consumer business revenue has fallen sharply, and Huawei has to quickly make up for the loss of its mobile phone business by selling cars.

For the current Xiaomi car, mass production is still the most important step. As for the future renovation of Xiaomi’s home to adapt to the car-selling scene, Xiaomi still has plenty of time to prepare.

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