Xiaomi plans to spend 15 billion US dollars to enter field of electric vehicles

Xiaomi intends to spend 15 billion US dollars to enter the field of electric vehicles. Xiaomi Group now responds that the company intends to establish a wholly-owned subsidiary to be responsible for the smart electric vehicle business.

The initial investment is RMB 10 billion, and the investment is expected to be USD 10 billion in the next 10 years. Mr. Lei Jun, the CEO of the Group, will concurrently serve as the CEO of the smart electric vehicle business.

Lei Jun also publicly said that this matter was just decided. He will talk to you in detail at the press conference tonight about the specific matters of building the car. When Lei Jun, Chairman, and CEO of Xiaomi Group, participated in Xu Zhiyuan’s dialogue column, he revealed that “Xiaomi has a big project recently and has prepared 10 billion U.S. dollars.”

Xiaomi does have sufficient funds to invest in car building, the latest financial report It is shown that Xiaomi’s mobile phone shipments in 2020 will be 146 million units, with annual revenue of 245.9 billion yuan and cash reserves of more than 100 billion yuan.

(Xiaomi)