Xiaomi to launch first car in 2024

Mobile phone and home appliance maker Xiaomi apparently plans to launch its first model as early as 2024. The news platform 36kr reports from company circles that the company wants to bring out a new model every three years thereafter. Annual sales are expected to be around 300,000 units initially. Company CEO Lei Jun had announced in March that he planned to enter the smart, connected e-car business(China.Table reported). The news was met with great interest in both the automotive and electronics industries.