Xiaomi is creating cars. Lei Jun, the company’s founder and CEO, appears to dedicate half of his time to the automobile section. Xiaomi Auto’s CEO has set the lofty aim of becoming one of the world’s top five carmakers, giving the Chinese corporation confidence in its new endeavor.
Lei Jun stated in an interview that Xiaomi Auto aims to become one of the top five automobile manufacturers in the world within 15-20 years. He noted that Xiaomi’s complete control of Xiaomi Auto comes from using corporate resources, and Xiaomi Auto’s marketing benefits from Xiaomi’s many Chinese retail outlets.
Related: Xiaomi to invest $10 Billion for their Electric Cars
The CEO says Xiaomi is 6-7 years behind the competition in China and aims to launch its first automobile by 2024. Lei Jun said Xiaomi’s software and user experience expertise would help them close the car sector gap rapidly, and he says software development is more critical now.
Volkswagen, Toyota, Mercedes, and Ford dominate the auto sector. Tesla has proved that Xiaomi can beat industrial titans.
Xiaomi Auto raised $439 million and hired 2,300 R&D staff last year. Xiaomi is also working hard to mass produce the first automobile by Q1 2024, according to recent sources.
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