Earlier right now, Xiaomi formally launched its monetary report for the fourth quarter and full 12 months of 2021. The report reveals that the full income within the fourth quarter hit 85.6 billion yuan ($13.Four billion), a year-on-year enhance of 21.4%. Its adjusted internet revenue hit 4.5 billion yuan ($706.eight million), a year-on-year enhance of 39.6%. For the total 12 months of 2021, Xiaomi Group’s complete income hit 328.Three billion yuan ($51.5 billion), a year-on-year enhance of 33.5%. Its adjusted internet revenue reached 22 billion yuan ($3.Four billion), a year-on-year enhance of 69.5%. The corporate had some details about the Xiaomi Automobile venture.

Along with the gratifying achievements in primary companies reminiscent of cellphones, Xiaomi Group additionally said that for the reason that announcement of the Xiaomi Automobile venture in March 2021, the Xiaomi Automobile enterprise has progressed past expectations.

Xiaomi Group stated that as of now, the Xiaomi Automobile venture R&D crew exceeds 1,000 folks. Sooner or later, it would proceed to develop R&D in core areas reminiscent of autonomous driving and good cockpits. The corporate reiterates that it’s going to preserve its preliminary schedule of getting into mass manufacturing within the first half of 2024.

In accordance with Xiaomi, the preliminary funding for the Xiaomi Automobile venture is $10 billion within the subsequent 10 years. The corporate is led by Lei Jun as CEO, and the core members embody Wang Xiang, Lu Weibing, Liu De, Hong Feng, Li Xiaoshuang and so forth. When Lei Jun introduced the Xiaomi Automobile venture, he stated that Xiaomi will construct Xiaomi automobiles with 108 billion yuan ($19.6 billion) in money reserves. The corporate additionally hopes to attain a analysis and growth crew of greater than 10,000 folks.

Xiaomi Automobile could also be Lei Jun’s final main venture

Early final 12 months, Lei Jun formally introduced that Xiaomi formally entered the good electrical automobile trade. In accordance with him, the corporate is researching to construct automobiles. “I’ve visited Musk twice earlier than, and I’m very optimistic in regards to the electrical automobile trade. I’ve additionally invested in practically 10 electrical automobile trade corporations prior to now…With high-quality good electrical autos, customers all over the world can get pleasure from ubiquitous good life”

Lei Jun jas been in touch with a number of electrical automotive corporations. He has had in-depth exchanges with greater than 200 automotive trade veterans. Actually, he has a number of inside administration discussions and formal board conferences on this regard. The corporate is kind of critical about making electrical automobiles. Lei Jun additionally said that the progress of the Xiaomi Automobile and the crew’s work has far exceeded his expectations. The primary Xiaomi automotive should formally go on mass-production within the first half of 2024.