Most recently the editorsggtold you that Xiaomi bought Deepmotion, a company specializing in
Chinese smartphone giantXiaomi has officially registered its electric vehicle business and said that the division has entered a “significant development phase”.
Facts
The subsidiary is called Xiaomi EV, Inc. and was established with a previously announced registered capital of 10 billion yuan ($ 1.55 billion).
In March, the Beijing-headquartered company announced plans to launch an electric vehicle business and invest $ 10 billion over the next decade.
Prospects
Xiaomi EV currently has 300 employees, the company said, and the automotive business is personally led by group founder and CEO Lei Jun.
Xiaomi said its electric vehicle team“did a huge amount of research” over the past five months. She also visited with industry partners, “moving forward in defining the EV product and building the team”.
Source: cnbc
</ p>