Xiaomi to launch four new EV models: Report

Chinese electronics company Xiaomi plans to launch four new EV models into the Chinese market.

According to local reporting by Auto Bit, the launch will include two vehicles in the A+ class and two vehicles in the B class.

The A+ models will support level two autonomous driving and cost between $23,500 and $31,500.

While in contrast, the B models will support level three autonomous driving and cost between $32,000 and $47,000.

The new vehicles will come in the next few years, and many expect the company to debut its concept car in the third quarter of this year.

Last year, Xiaomi made international headlines when they agreed to build their headquarters and manufacturing facility in Yizhuang in Beijing. The agreement was with the Beijing Economic and Technical Development Area Management Committee.

The manufacturing plant will have an annual production capacity of 300,000 units, with the production vehicle rolling off its production line in 2024.

The company reportedly has a $1.5 billion investment to start development.  As well, they have an additional $1.5 billion over ten years to support manufacturing.

Xiaomi to invest billions to enter electric vehicle market

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