Xiaomi’s entry into the automobile industry has generated significant buzz and speculation. As the progress of Xiaomi’s first car model unfolds, recent reports shed light on noteworthy developments, including the finalization of pricing. With steady production progress and upcoming testing phases, Xiaomi’s foray into the automotive sector is garnering increasing attention.

Collaboration with FAW Fuwei Automotive Parts Co., Ltd. and Active Supplier Engagement: FAW Fuwei Automotive Parts Co., Ltd., an established player in the automotive industry, has confirmed its active engagement in Xiaomi’s car project. As a key supplier, several subsidiaries of FAW Fuwei have joined Xiaomi’s car purchasing team. This collaboration highlights the substantial progress made in Xiaomi’s partnerships with suppliers, marking an important step forward for the company’s ambitious automotive venture.

Clearing the Air on Pricing Speculations:

Initial speculations regarding the pricing of Xiaomi’s first car model circulated on social media, suggesting a starting price of 149,900 yuan ($20,777). However, Wang Hua, the head of Xiaomi’s public relations, dispelled these rumors, clarifying that the information was false. It was traced back to a self-media report from May 2022, which was inadvertently amplified by the Xiaoice virtual assistant. The actual pricing details are yet to be officially disclosed.

Steady Production Progress and Upcoming Testing Phases:

According to reports, the production of Xiaomi’s car is progressing steadily. Xiaomi’s partner and president, Lu Weibing, revealed in May of this year that the car project was moving forward smoothly and had entered an accelerated development stage. Notably, founder Lei Jun was spotted testing the car in snowy conditions earlier this year, indicating rigorous testing and refinement.

Additional testing phases, both in summer and winter environments, are scheduled for this year. These tests will ensure the vehicle’s performance, safety, and reliability meet the highest standards. With the current timeline, Xiaomi plans to officially launch its highly anticipated car in the first half of 2024.

Xiaomi Group’s Financial Report and Focus on Innovative Businesses:

In Xiaomi Group’s recently released financial report for the first quarter of 2023, the company provided insights into its various innovative businesses, including its smart electric vehicle endeavors. While the report indicated a decrease in total revenue compared to the same period in 2022, Xiaomi’s adjusted net profit experienced a notable increase. This highlights the company’s commitment to diversifying its offerings and investing in emerging sectors such as smart electric vehicles.

Conclusion:

As Xiaomi’s first car model progresses through its development stages, anticipation continues to grow among industry experts and consumers. With active supplier engagement, steady production progress, and upcoming testing phases, Xiaomi’s foray into the automobile industry is poised for success.

While the exact pricing details remain undisclosed, the company’s dedication to innovation and its track record of disrupting industries raise expectations for an exciting debut in the automotive market. Xiaomi’s venture into smart electric vehicles holds great promise for the future of mobility and sets the stage for a dynamic and competitive landscape in the years to come.