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Just recently, gg told you that Xiaomi has bought Deepmotion, a company specializing in autonomous driving. And now, fresh news has arrived from the almost undisputed leader of the smartphone market.

Chinese smartphone giant Xiaomi has officially listed its electric vehicle business and said the division has entered a «significant phase of development.»

  1. The facts
  2. prospects

The facts

The subsidiary is called Xiaomi EV, Inc. And it 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 employs 300 employees, the company said, and the automotive business is personally led by the founder and CEO of the group, Lei Jun.

Xiaomi said its EV team has «done a huge amount of research» over the past five months. She also visited industry partners «moving forward with EV product definition and team building.»

Source: cnbc

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