Some time ago, Xiaomi made sure to enter the electric car business. Now, the smartphone manufacturer has officially established a company called Xiaomi Automobile which has been registered with the authorities in China.
The number of employees is 300 people. The initial capital is USD 1.55 billion and will be led by Lei Jun as CEO and Chairman of Xiaomi Group. They also have job openings.
"In the 5 months since the announcement that it will produce cars, the Xiaomi team has carried out major research. It has also selected more than 20 thousand job applications and built a team of 300 people and continues to invite talents who are interested in the electric car business to join us," the statement said. Xiaomi on social media.
Xiaomi has also explored the possibility of partnerships with several car manufacturers, but so far no agreement has been reached. They are also rumored to want to acquire an electric car unit belonging to the Evergrande company.
In recent months, the management of Xiaomi Automobile has made 85 visits to related industries. They also chatted with more than 200 automotive industry veterans to gain insight into electric cars.
Electric cars are trending in China thanks to strong policy support from the government, including providing subsidies. Research firm Canalys estimates there will be 1.9 million electric vehicles sold in China by 2021, representing 51% year-on-year growth.
"Xiaomi hopes to offer smart electric vehicles to enable everyone in the world to enjoy smart life anytime, anywhere," Xiaomi said in its announcement when it first announced it would produce electric cars.
When conducting a survey, it turned out that the majority of Xiaomi fans gave support for the company to jump into making electric cars. "After discussions with more than 200 automotive industry veterans, 4 internal management discussions, and two board meetings, we have finally come to the most important decision in Xiaomi's history: Xiaomi has officially entered the smart electric vehicle market," said Lei Jun.