SHANGHAI -- Chinese smartphone maker Xiaomi said it plans to start mass producing its own electric cars in the first half of 2024, a company spokesperson said, citing comments from CEO Lei Jun.
The comments, which were made at an investor event, were first reported by local media and later confirmed by the company.
Zang Ziyuan, a director in Xiaomi's international marketing department, also posted the news on his verified Weibo account.
The date marks the next major target for the company's fledgling EV division, which Xiaomi formally announced earlier this year.
In March, Xiaomi said it would commit to investing $10 billion in a new EV division over the next ten years. The company completed the business registration of its new unit in late August.
The company has ramped up hiring for the unit, though it has yet to reveal if it will produce the car independently or via a partnership with an existing automaker.