Since Xiaomi’s announcement of its entry into the automobile industry, anticipation has been growing among industry experts and consumers alike. The progress of Xiaomi’s first car model has been a subject of interest, and recent reports suggest significant developments. According to CNMO, a supplier involved in the project has claimed that pricing for Xiaomi’s first car model has been finalized.

Xiaomi Car

Steady Production Progress and Upcoming Testing Phases

FAW Fuwei Automotive Parts Co., Ltd., based in Changchun, confirmed their active engagement with Xiaomi’s car project and disclosed that several of their subsidiaries have joined Xiaomi’s car purchasing team. This development indicates significant progress in the collaboration between Xiaomi and its suppliers.

Earlier, a social media leak suggesting a starting price of 149,900 yuan ($20,777) for Xiaomi’s car had sparked discussions. However, Wang Hua, the head of Xiaomi’s public relations, clarified that this information was false. It was traced back to a self-media report from May 2022 that was mistakenly amplified by the Xiaoice virtual assistant.

The production of Xiaomi’s car is reportedly advancing steadily. In May of this year, Lu Weibing, Xiaomi’s partner and president, shared that the car project was progressing smoothly and had entered an accelerated development stage. The car was spotted being tested in the snow with founder Lei Jun back in January this year. More summer and winter testing are scheduled to be conducted this year. According to the plan, the Xiaomi car is scheduled to be officially launched in the first half of 2024.

Xiaomi Group recently released its financial report for the first quarter of 2023, which included updates on its innovative businesses, such as smart electric vehicles. Despite a decrease in total revenue compared to the same period in 2022, the company’s adjusted net profit witnessed a notable increase.

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