After becoming the world’s largest smartphone company (in June 2021), Xiaomi has now decided to enter the automotive sector.
Reports have been circulating for months, and in March 2021, Xiaomi announced a 10 billion investment in electric vehicles.
But now Xiaomi has registered a company that will manufacture electric vehicles.
Xiaomi’s sector has already made significant progress in this regard.
The company has been renamed Xiaomi EV Inc. and has 300 employees so far.
In fact, the company will be headed by Xiaomi founder Lai Jun.
According to Xiaomi, the company has done a lot of research on consumers and partners over the past five months, but has not yet developed an electric vehicle or prototype model.
Xiaomi recently announced the purchase of Deep Motion, a company that specializes in automated driving technology, to advance its electric vehicle business.
China is the world’s largest and most expanding auto market, with companies seeing a bright future after the epidemic.
In 2020, car sales in China fell 2% to just over 25 million, close to a third of global sales, but the market in China is recovering rapidly as the popularity of electric vehicles rises.