Xiaomi to invest 10b yuan in smart electric car unit
By Ma Si | chinadaily.com.cn | Updated: 2021-03-30 19:30
Chinese tech company Xiaomi Corp said on Tuesday that it plans to establish a smart electric car unit, with an initial investment of 10 billion yuan ($1.52 billion).
Lei Jun, chairman of Xiaomi, will become the CEO of the wholly-owned unit, and the company plans to invest $10 billion into the smart car business over the next 10 years.
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