Xiaomi Auto strives to be the Top5 worldwide in the next 20 years
Xiaomi Auto strives to be the Top5 worldwide in the next 20 years
On February 9th, Lei Jun, the founder & CEO of Xiaomi, claimed that Xiaomi Auto is aiming to be the Top5 automakers globally in next 20 years on Xiaomi 2022-2023 investor day.
"Automobile manufacturing is a “zero-to-one” project for us. We will continue to focus on the R&D, quality and supply chain." Lei Jun is highly committed to the project and even devoted half of his time to it.
Xiaomi didn’t hesitate to invest a huge sum of money in automobile project to accelerate the progress. According to the reports, Xiaomi invested totally more than $430 million on automobile project last year, which is over 3 times that of other OEMs in early stage, as well as built a R&D team of more than 2,300 people.
Lei Jun revealed that the official mass production time of Xiaomi Auto would still be first half of 2024. What's more, the 10,000 offline stores which Xiaomi has built over the past three years are very helpful for Xiaomi Auto to develop its marketing network.
However, investors still questioned whether the launching time of Xiaomi Auto was too late. “Vehicle is a century-old industry. It's never too late to be bullish on it.” Lei Jun explained, “New energy OEMs in China started their layouts around 6-7 years head of Xiaomi, but Xiaomi’s strength in software and UE will narrow down the gap. So, the launching time of Xiaomi Auto in 2024 is just right.”
