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Xiaomi starts smart EV business with RMB 10 billion initial investment
Source:Adsale Plastics Network    Editor:JK    Date:25.Oct.2021

Xiaomi Corporation announced that Xiaomi EV Company Limited has completed the business registration with a registered capital of RMB 10 billion. Lei Jun, Founder, Chairman and CEO of Xiaomi, is the legal representative of Xiaomi EV Company Limited.

 

In March, Lei Jun, the Founder of Xiaomi, was announcing in his speech the company’s EV business initiative and Xiaomi is committed to investing an estimated USD 10 billion in total in EV business over the course of the next 10 years, with an initial investment of RMB 10 billion.


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Xiaomi has completed Xiaomi EV Company Limited.


During the period from the announcement of Xiaomi EV initiative to the official registration of the EV company, the Xiaomi EV team has conducted user research and industry chain inspections, with more than 2,000 interview surveys and visits to over 10 industry peers and partners.

 

In addition, Xiaomi announced its acquisition of an autonomous driving technology company Deepmotion Tech in August, showing that the company has started focusing on building automotive-related technologies and talents. There are 16,000 engineers at Xiaomi currently and its R&D expenses were nearly RMB 10 billion in 2020.

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