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After nearly $11 billion of investment, the company was on the verge of deploying its first prototype.

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Xiaomi is in the advanced stages of development, and the car will be showcased in a few weeks.

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The company was expecting to go into full mass manufacturing in 2024.

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The market for Electric Vehicles, the so-called EVs, has been trending recently.

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China is one of the countries seeing the highest increase in this particular category.

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f the application for vehicle manufacturing from Xiaomi Car gets rejected, the company will need to start the process all over again.

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According to Lei Jun, the company has been investing $10 billion over the next 10 years to get the project off the ground.

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However, he will need to invest some of that money a bit earlier than he thought. Of course, the market is not digesting this easily.

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