Xiaomi's automotive R&D team has grown to over 1,000 people and is expected to officially start mass production of the Xiaomi car in the first half of 2024.
The Xiaomi Group announced In 2021, Xiaomi Group's total revenue reached RMB328.3 billion, representing an annual growth of 33.51T$3.3T. Adjusted net profit was RMB22 billion, an increase of 69.5% year-on-year. In 2021, Xiaomi's global smartphone shipments and market share both reached a record high, with global smartphone shipments reaching 190 million units, an annual growth of 30%.
In addition, in the intelligent electric vehicles business, Xiaomi wrote in its financial report that "progress has exceeded expectations". In the automotive business, the number of R&D team members exceeded 1,000. In the future, it will continue to expand research and development in core areas such as autonomous driving and intelligent cockpit. In six months, formal mass production of the Xiaomi car could be achieved.
The industrial and commercial registration of Xiaomi Automobile Co. Ltd. was completed last year. The company was established with a registration capital of 10 billion yuan and Xiaomi CEO, founder, chairman and CEO of the Xiaomi Group, will lead the new organisation.
"Xiaomi's goal is to provide high-quality smart electric vehicles for users around the world to enjoy the ubiquitous smart life," he said. Xiaomi CEO. Although the company's initial investment is around 10 billion yuan, it plans to invest around 60 billion yuan over the next 10 years to grow the business.
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