Xiaomi is inching towards manufacturing its own cars, and of late, the Chinese tech giant has had great success regarding this. According to a few reports, most of the trademarks of Xiaomi Motors, Xiaomi Car, Micar, and others have been registered and approved, except for some international classifications that carry the tags of “rejection review pending” and “waiting for substantive review.” The international classifications involve transportation, education, entertainment, and storage. Xiaomi applied for most of these trademarks back in April 2021.
Lei Jun, who is the founder of Xiaomi, in a previous Weibo post, had officially announced that Xiaomi cars would be mass-produced in the first half of 2024. The Weibo post also detailed the reasons behind Xiaomi’s venturing into car manufacturing.
Among other reasons, Lei Jun cited that Xiaomi’s existing assets and capabilities which include brand, users, retail, supply chain, technology, etc., are some of the major driving forces behind Xiaomi cars.
Xiaomi Home will be occupied with the future sales of Xiaomi cars and services. At the Xiaomi Spring New Product Launch conference, Lei Jun mentioned that Xiaomi would use its existing cash reserve of 108 billion yuan, an R&D team of more than 10,000 people, and the world’s best smart ecosystem to build Xiaomi cars.
In March this year, the Chinese tech giant formally announced its plans to invest in and manufacture Xiaomi cars. Xiaomi invested 10 billion USD in its first phase, and in the next 10 years, the company is expected to invest another 10 billion USD. The core members include Wang Xiang, Lu Weibing, Liu De, Hong Feng, Li Xiaoshuang, and Lei Jun will retain his position as the CEO of the company.
In October, Lei Jun announced that progress on this front is being made as expected and that Xiaomi could mass-produce the cars in the first half of 2024.