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Tag: invests

Xiaomi invests $1.5 billion in fully owned EV replace

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Xiaomi founder and CEO Lei Jun announced that the corporate has kicked off its long-rumored carmaking mission all through a press occasion in Beijing on Tuesday, March 30, 2021. (Image credit: Xiaomi) Chinese tech huge Xiaomi is throwing its hat into the purple-hot electric vehicle market with a RMB 10 billion ($1.52 billion) investment to station up a in point of fact owned subsidiary for its auto replace, to be led by chief government Lei Jun. Founder and CEO Lei at a press occasion in Beijing on Tuesday said Xiaomi had decided to strike out by itself on EVs so as to characteristic an ecosystem that will provide seamless particular person expertise, and isn't very any longer going to capture in thoughts exterior funding. Lei said he became mindful of t...