Xiaomi's production of smart electric vehicles enters a new stage

Xiaomi founder Lei Jun invested 10 billion yuan and completed the registration of Xiaomi EV, Inc. Thus, the global technology leader Xiaomi announced the completion of the registration of Xiaomi EV, Inc. with a registered capital of 10 billion yuan.

This event marks a key milestone in the long-awaited smart electric vehicle (EV) initiative, which has officially entered an important phase of development. Lei Jun will lead the team to engage in electric vehicle production and turn promises into actions, demonstrating his firm resolve and belief.

Since Xiaomi announced the launch of its electric vehicle business, the company has given hope for the revival of the automotive industry through innovation in its potential development. On July 28, Lei Jun was involved in selecting talented specialists for the autonomous department on the social network Weibo. During the Q2 2021 teleconference held on August 25, Wang Xiang, partner and president of Xiaomi, stated that he felt immense support from the automotive industry, as the company received over 20,000 resumes. The Xiaomi EV team carefully selected talented specialists and formed a team of about 300 employees. The strong enthusiasm during the recruitment process demonstrated that Xiaomi has become a new force reflecting high expectations among industry insiders. As the team continues to grow rapidly, the company welcomes the joining of more like-minded individuals and talented people.

Within five months from the announcement of the Xiaomi EV initiative to the official registration of the electric vehicle company, the Xiaomi EV team conducted extensive user research and industry chain verification, implementing over 2,000 surveys-interviews and visiting more than 10 colleagues and partners in the industry. The company steadily advanced, defining its product's market position and forming its team of like-minded individuals.

Additionally, on August 25, Xiaomi announced the acquisition of Deepmotion Tech, a company specializing in autonomous driving technologies. This indicates that the Group has begun to pay special attention to the development of technologies and talents related to the automotive industry. Currently, Xiaomi employs 16,000 engineers, and its research and development expenses in 2020 amounted to nearly 10 billion yuan. This demonstrates Xiaomi's capabilities and confidence in possessing advanced technologies and a rich talent pool. Xiaomi's technological advantages in artificial intelligence, new materials, and other areas will serve as strong support for the automotive business.