Xiaomi Group recently made an official announcement that it intends to set up a wholly-owned subsidiary to be responsible for the smart electric vehicle business. The first phase of investment is 10 billion yuan, and the investment is expected to be 10 billion dollars in the next 10 years.

Mr. Lei Jun, Group Chief Executive Officer, will also serve as Chief Executive Officer of the Smart EV business.

(Source of article: Xiaomi Group)

[Zhongshun Xinneng Marketing Department April 26, 2021 Responsibility: Xiao Zheng]

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