- Xiaomi Corp XIACF XIACY will mass-produce its cars in the first half of 2024, Reuters reports citing a company spokesperson.
- In March, Xiaomi earmarked $10 billion in a new electric car division over the next ten years.
- Xiaomi completed the business registration of its EV unit in late August, the report added.
- Xiaomi ramped up hiring for the unit. However, Xiaomi is yet to confirm if it will produce the car independently or via a partnership with an existing carmaker.
- Related Content: Xiaomi Shares Surge As Report Says Company To Make Electric Vehicles Aimed At Mass Market In China
- Price Action: XIACY closed Monday's trading session at $13.76.
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