The Chinese company Xiaomi has officially confirmed that it will produce electric vehicles in the future.
Electric vehicles: what can Xiaomi actually not do?
The co-founder of Xiaomi, Lei Jun, will head a new department dedicated to building smart electric vehicles. Xiaomi initially wants to invest $ 1.5 billion in the production of smart electric vehicles. The company also announced that Xiaomi is planning to invest $ 10 billion over the next 10 years. Around to drive the electromobility business forward, is founded Xiaomi a wholly owned subsidiary.
The Chinese smartphone manufacturer is convinced that the cars of the future will become more and more autonomous and networked. In addition, the CEO, Lei Jun said: “We have a deep pocket for this project”. He is aware that the automotive industry brings with it some risks and that the project will take 3 to 5 years.