The new division was named Xiaomi EV Inc., and its head will be the company's CEO personally. The authorized capital will amount to 10 billion yuan — approximately 1.5 billion dollars. At the same time, over the course of a decade, the Chinese manufacturer plans to invest a total of 10 billion dollars in the automotive business.
Xiaomi EV Inc will be engaged in creating electric vehicles "turnkey" — from design to serial assembly. The staff of the new structure has already recruited 300 specialists, who were selected from 20 thousand applicants. At the same time, the recruitment of engineers and qualified workers continues.
Almost six months passed between the announcement of the company's creation and its official registration. During this period, the Xiaomi EV Inc team determined the development plan, conducted more than two thousand surveys, and visited over ten specialized production facilities. The acquisition of the autopilot systems developer Deepmotion Tech was also completed.
When the first Xiaomi electric car will debut, on which markets it will appear, and what it will be like, one can only guess for now.
Recall that Xiaomi was founded in 2010. During this time, the brand managed to occupy a significant share of the smartphone, smart watch, and home appliance markets.
