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Chinese smartphone giant Xiaomi’s Chairman and CEO Lei Jun said that the progress of the company electric vehicle manufacturing is faster than expectations and have recently completed the winter test.
Lei said the EV unit will start mass production in the first half of 2024.
Lei, a National People’s Congress (NPC) delegate at China’s annual parliamentary gathering, said on Sunday that Xiaomi invested more than 3 billion yuan (US$434.3 million) in its EV venture last year, according to official Chinese media coverage of the event.
The 53-year-old entrepreneur, said he now spends half of his time working on Xiaomi’s EV business, leading a team of more than 2,300 people.