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Xiaomi officially entering smart electric vehicle after Xiaomi EV gets greenlighted for business

Xiaomi EV team with Lei Jun, Founder, Chairman and CEO of Xiaomi

Xiaomi Corporation has announced that Xiaomi EV, Inc. Xiaomi EV Company Limited has completed the business registration with a registered capital of RMB 10 billion. It was also confirmed that Lei Jun, Founder, Chairman and CEO of Xiaomi, is the legal representative of Xiaomi EV, Inc Xiaomi EV Company Limited.

The beginning of Xiaomi EV is during end of March 2021, Lei Jun was announcing in his speech the company’s EV business initiative and Xiaomi is committed to investing an estimated USD 10 billion in total in EV business over the course of the next 10 years, with an initial investment of RMB 10 billion. He himself will lead the team and stake his entire reputation on fighting for the EV business of Xiaomi. As of today, Lei Jun has become the legal representative of Xiaomi EV, Inc. Xiaomi EV Company Limited and he is leading the team to double down on the EV manufacturing to turn his promises into actions, showing his firm determination and faith.

On July 28th, Lei Jun recruited talents for the Autonomous Department on Weibo. During the 2021 Q2 earnings call on August 25th, Wang Xiang, Partner and President of Xiaomi, expressed that he felt the immense love from the automotive industry for Xiaomi as the company has received over 20,000 resumes. The Xiaomi EV team has carefully selected talents and formed a team of about 300 employees. The strong appeal of talent recruitment demonstrated that Xiaomi has become an emerging force that carries high expectations among the business insiders. As the team is still expanding rapidly, it welcomes more like-minded talented individuals to join.

During the 5 months from the announcement of Xiaomi EV initiative to the official registration of the EV company, the Xiaomi EV team has conducted a massive amount of user research and industry chain inspections, with more than 2,000 interview surveys and visits to over 10 industry peers and partners, while pressing ahead with the EV product definition and team formation.

In addition, Xiaomi has acquired an autonomous driving technology company Deepmotion Tech on August 25th. This shows that the Group has started to focus on building automotive-related technologies and talents. There are 16,000 engineers at Xiaomi currently and its R&D expenses are nearly RMB 10 billion in 2020. This demonstrates Xiaomi’s capability and confidence in having a rich talent pool and technologies. Xiaomi’s technological advantages in artificial intelligence, new materials and other fields will form a strong support for the automotive business.

What do you think of Xiaomi latest entry into smart electric vehicle? Let us know in the comment.

2/9/2021 – Xiaomi EV Inc has been changed to Xiaomi EV Company Limited. Apologies for error

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