Xiaomi Expands into Electric Vehicle Sector
USD 10 billion to be invested in smart electric vehicles over the course of 10 years, ushering in the new Xiaomi
Beijing, CHINA, March 30, 2021 — Xiaomi Corporation (“Xiaomi” or the “Group”) is commencing its smart electric vehicle business with an official notice to Hong Kong Stock Exchange (HKEX). Lei Jun, Founder, Chairman and CEO of Xiaomi, stated during its March 2021 launch event that the business will be operated under a Xiaomi wholly-owned subsidiary with an initial investment of RMB 10 billion. Lei Jun will concurrently serve as the CEO of the smart electric vehicle business.
I am determined to lead my team to fight for the success of the Xiaomi electric vehicle,” said Lei Jun. He also uncovered that in the past 75 days he had witnessed Xiaomi executive team’s thorough decision-making journey, including rigorous and comprehensive research into the electric vehicle industry – 85 meetings with over 200 industry experts, four internal management debates, and two board meetings.
About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core.
With an equal emphasis on innovation and quality, Xiaomi continuously pursues high-quality user experience and operational efficiency.
Apr 01, 2021 at 07:38