The news was first reported by local media Sina Tech which said the founder of Xiaomi Lei Jun was directly involved in ensuring that the prototype disclosure plan was carried out on time.
Citing Arena EV on Sunday, the prototype will be unveiled at Xiaomi’s biggest public event and after that it will be prepared for its first road test in winter.
Another step that shows Xiaomi’s seriousness in working on an electric car can be seen from the company’s plan to find a special director of campaigns and public relations to start marketing after the prototype car was introduced.
In the next ten years, Xiaomi is setting aside US$10 billion for the development of its automotive division.
The Xiaomi Auto manufacturing plant will be built in Yizhuang, China and will become a product research and development center.
The expected production capacity is 300,000 cars per year once the plant is up and running at full speed.
The initial phase of society will see 150,000 vehicles produced per year with the first model targeted for launch in 2024.
The research and development team even now has more than 1,000 employees and continues to grow to ensure that electric cars are quickly realized.
Xiaomi plans to launch four different models covering the A+ and B segments.
The A+ segment model will target a selling price of between USD 22,200 to USD 29,600 with support for L2 autonomous driving.
While the B-segment cars on the other hand will cost around $29,600 to $44,400 with the support of L3 autonomous driving technology.