Xiaomi has officially become an automaker

Most recently, the revision gg told you that Xiaomi bought the company Deepmotion, which specializes in

autonomous driving. And now the latest news arrived from the almost unconditional leader of the smartphone market.

Chinese smartphone giant Xiaomi has officially registered its electric vehicle business and said the division has entered a "significant development phase."


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.


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 that its electric vehicle team"Did a huge amount of research" in the last five months. She also visited industry partners "moving forward in EV product definition and team building."

Source: cnbc

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