A few months ago, Xiaomi's CEOs announced that their company had serious plans for the electric car market. Ultimately, Xiaomi wants to invest a lot of money in this industry, and all this will be done through the use of a new sub-brand, the creation of which has already been officially confirmed.
The new company was named Xiaomi EV. The company director will also be the same person who manages the entire Xiaomi company, so it will be Lei Jun. So far, the proprietary electric car created by the Chinese company has not been presented, and no release plans have been published. We only know that Xiaomi has invested 1.5 billion of dollars in its new company and the newly established company already employs 300 people. Over the next 10 years, Xiaomi wants to invest another 1.5 billion of dollars in its new company.