Xiaomi enters EV market

Xiaomi has moved into the electric vehicle (EV) market with the establishment of Xiaomi EV

Backed by a registered capital of RMB10 billion, the new company marks a major milestone in Xiaomi’s smart EV initiative which was announced by Lei Jun, Founder, Chairman and CEO of Xiaomi, in March 2021.

Since the announcement, the team has been formed and conducted user research and industry chain inspections.

Xiaomi announced the acquisition of autonomous driving technology company Deepmotion Tech on August 25 in a show of intent of building automotive-related technologies and talents.

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