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Xiaomi Joins Electric Car Race With $10 Billion Investment
Published on: 2021-03-31
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Chinese smartphone giant Xiaomi has announced plans to launch an electric vehicle business and invest $10 billion over the next 10 years.

The company will set up a wholly-owned subsidiary and the initial phase of investment will total 10 billion yuan.

Xiaomi Chief Executive Lei Jun will also be the CEO of the car unit.

The Chinese technology firm, which is the world's third-largest smartphone maker, is jumping into an incredibly competitive space in China.

Not only is Xiaomi competing with established automakers in the country, such a Geely and Warren Buffet-backed BYD, but also upstarts such as Nio and Xpeng Motors.

And internet companies are also entering the smart electric vehicle arena. Chinese search giant Baidu launched a standalone electric car company in January and last month hired a CEO for that business.

Electric cars have taken off in China thanks to strong policy support from Beijing, including subsidies. Even though some of these measures have been reduced, research firm Canalys forecasts that 1.9 million electric vehicles will be sold in China in 2021, representing year-on-year growth of 51%.






之前曾有消息称“小米汽车”定位中高级车,由小米老将王川担任造车计划的负责人。但如今看来,雷军明显更想亲自下场掺一脚,毕竟2013年他拜访马斯克之后就生出了惺惺相惜之感,此后更是以自己或公司名义,投资了40 家左右有关造车、汽车后市场以及出行的企业。


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