Auto News

Xiaomi builds new technology subsidiary for NEV sales

Shanghai (Gas Goo)- Chinese electronics giant Xiaomi recently established a subsidiary to sell new energy vehicles (NEVs).

Photo provider: Xiaomi

Established on August 2, 2021, the new company in Zhuhai, Guangdong Province is called Guangdong Hengqin Small Rice Technology Development Limited Liability Company. (Abbreviated as “Zhuhai Xiaomi”) contains 1 million yuan ($ 154.7 million) of registered capital and is wholly owned by Xiaomi Technology Co., Ltd. We are developing businesses such as NEV sales, technology and product import / export, information system integrated services, software development, and communication equipment manufacturing.

Xiaomi announced its entry into the electric vehicle (EV) sector on March 30, 2021 and plans to invest approximately $ 10 billion in EV manufacturing over the next decade. Xiaomi’s founder, chairman and CEO Lei Jun announced on Tuesday that the company’s automotive business is in a very early stage and will inform the public if significant progress has been made.

In late July, the State-owned Assets Supervision and Administration Committee (SASAC) of Anhui Province intended to contact Xiaomi and introduce Xiaomi’s EV business to Hefei, according to several independent sources. It was reported.

Rumors were subsequently denied by official SASAC sources who said they had no contact with Xiaomi. Xiaomi builds new technology subsidiary for NEV sales

Back to top button