Lu Weibing: Xiaomi car building is progressing very smoothly, and the production listing plan for 2024 remains unchanged.

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! According to CTOnews.com on August 29, in 2021, Xiaomi announced a high-profile 10-year investment of $10 billion to build cars.

So far, Xiaomi has been exposed many times and appears to be being tested in Xinjiang, less than a year before Xiaomi's goal of mass production by 2024.

Lu Weibing, partner and president of Xiaomi Group, revealed that Xiaomi car-building is going very smoothly, and even some recent progress has far exceeded expectations.

Lu Weibing said that the actual investment of Xiaomi car is even greater. Xiaomi is to do the long-term layout of the car with the goal of entering the top five in the world in the future, to do self-research, and to build its own car factory, so the investment in cash flow is even higher than the disclosed figure.

Recently, a series of photos about car construction posted by Lu Weibing and Xiaomi founder Lei Jun on Weibo have also sparked heated debate. In response to this, Lu Weibing said that Xiaomi has just finished its summer test and is making better-than-expected progress and maintaining its mass production target for the first half of 2024.

According to the latest financial report, Xiaomi Group reported revenue of 67.35 billion yuan in the second quarter, down 4% from the same period last year; net profit in the second quarter was 3.67 billion yuan, up 168.5% from the same period last year; and adjusted net profit under non-international financial reporting standards was 5.14 billion yuan, up 147% from the same period last year.

Xiaomi also mentioned that R & D spending in the second quarter of this year was 4.6 billion yuan, up 21% from a year earlier. As of June 30, the number of R & D personnel reached 16834, accounting for 52% of the total staff.

According to reports, in June 2023, the number of global MIUI monthly active users reached 606 million, an increase of 10.8% over the same period last year.

As of June 30, 2023, the number of IoT devices connected to Xiaomi's AIoT platform (excluding smartphones, tablets and laptops) increased to 655 million, an increase of 24.2 per cent year-on-year.

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"sources say that Xiaomi's battery suppliers have decided at this stage: China New Airlines and Ningde era."

The blogger said that the spy photos of Xiaomi's real car in Xinjiang road test were taken, and Lei Jun and Lu Weibing "appeared in the same place at the same time."