Xiaomi announces smart EV business, to invest $10bn over ten years

SHANGHAI: Chinese smartphone maker Xiaomi Corp has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced on Tuesday in a filing.

The firm will initially invest 10 billion yuan ($1.52 billion) in the wholly-owned subsidiary, with a total investment goal of $10 billion over the next ten years.

Xiaomi CEO Lei Jun will also serve as CEO of the smart electric vehicle unit, the company added.

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1 COMMENT

  1. CEO Xiaomi Corp., Mr. Lei Jun compliments on the launch of Xiaomi Smart EV availability. Please do send your specs.,/availability, formal trail in Pakistan. Please do send specs., compliances, trails regions, with the UN/ITU reccomendations for Pakistan.
    Our mission is to zero Death/Injury on Roads of Pakistan with technology on smart EV.
    Best wishes,

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