Xiaomi to unveil its first electric car

Xiaomi's car-making arm, Xiaomi EV, will hold a tech launch in two days, which will be the first major launch since the Chinese smartphone giant announced its entry into the car-making space in early 2021.

In the run-up to the event, Xiaomi founder, chairman and CEO Lei Jun today revealed the thinking behind the company's entry into the car-making space and how the company's electric vehicle (EV) models will be differentiated from Tesla's.

"On March 30th, 2021, I announced that I was ready to 'fight for Xiaomi EV.' That was the moment I decided to put all past successes and failures behind me and dive into this challenging industry," Lei said on his personal social media account today.

The first step was to find like-minded people, Lei said, adding that he later realized that the automotive industry was buzzing with excitement after the decision was announced.

"From Munich to Tokyo, from Shenzhen to Beijing, news spread quickly, attracting some of the brightest minds from around the world to our EV team," he said.

Building a great car requires first-hand experience, so he set himself a goal of driving 100 cars and learning the strengths of each, Lei said.

He's already surpassed that initial goal, having driven more than 150 cars, Lei said.

Xiaomi EV has been executing its plans very quietly, intending to share progress and results by the day of its official launch, he said, adding that unfortunately there have been a lot of leaks or rumors in the meantime, but that's not the company's intention.