Xiaomi will begin work on its own car within two months. It is reported by the ITHome edition.
According to a source familiar with the plans of the leadership of the Chinese corporation, Xiaomi is “rapidly” deploying a project to create the first car. Work on the car will begin within one to two months. According to the first details, Xiaomi cars will be similar to the electric cars of the Chinese company Xiaopeng, which has been on the market since 2014. The source reports on plans to release “top models” with a focus on advanced technologies such as autopilot and intelligent battery drain.
Experts noted the appearance of entrepreneur Wang Chuan in the project to create the first car from Xiaomi. Chuan is the strategic director of the company – he has been with the corporation since 2012, at one time the top manager was involved in the development of the supply chain concept. He is also credited with the development of the Xiaomi TV division. “There is no more knowledgeable person in the company,” said insiders.
Analysts and insiders welcomed the rumors of the company's car project. After the news, Xiaomi Group shares on the Hong Kong Stock Exchange rose 2.6 percent.
Reports that Xiaomi is planning to enter the automotive market appeared at the end of February. Insiders said that the company does not yet have a clear plan for the development of this area, but the corporation is very serious. The project will be overseen by the founder of Xiaomi Lei Jun.