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Xiaomi completes registration of its electric vehicle business, paving the way for a potential Mi car

The 2019 Xiaomi Redmi car was just a modified version of the T77 SUV built by the Chinese automaker Bestune (Image: Parkwheels)
The 2019 Xiaomi Redmi car was just a modified version of the T77 SUV built by the Chinese automaker Bestune (Image: Parkwheels)
The Chinese technology giant that is primarily known for its smartphones and other mobile devices is staying true to its plans regarding the entry into the electric vehicle business. It has now announced that it reached a critical first milestone on its way to a possible Xiaomi Mi car.

Back in March 2021, Xiaomi officially announced that it would drastically expand its business and revealed its plans to enter the electric vehicle market. In a new post on its official blog, the Peking-based company has now released an update and announced that it has completed the registration of its EV division, which officially carries the name "Xiaomi EV Company Limited". The company was registered with a capital of US$1.5 billion, but Xiaomi plans to invest much more money into its latest business endeavor.

The Chinese corporation has already claimed that it would invest up to US$10 billion in its EV business in the next ten years. With that large sum of money, the company is aiming to revitalize the electric auto industry. In order to fulfill these high expectations, the team that is working on the first Xiaomi smart car has already been significantly expanded. About 300 talented employees are currently working for Xiaomi's EV division.

Furthermore, Xiaomi announced that it has recently acquired Deepmotion Tech, a company that develops autonomous driving technologies. All in all it seems like Xiaomi could indeed become a noticeable electric automaker in the future and thereby significantly expand its product lineup. Nevertheless, we expect that it will still release intriguing smartphones like the budget-friendly Xiaomi Mi 11 Lite (from US$329 on Amazon), which garnered a rating of 84% in our review.

Source(s)

Xiaomi via heise, Image: Parkwheels

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Enrico Frahn
Editor of the original article: Enrico Frahn - Tech Writer - 943 articles published on Notebookcheck since 2021
My fascination for technology goes back a long way to the Pentium II era. Modding, overclocking and treasuring computer hardware has since become an integral part of my life. As a student, I further developed a keen interest in mobile technologies that can make the stressful college life so much easier. After I fell in love with the creation of digital content while working in a marketing position, I now scour the web to bring you the most exciting topics in the world of tech. Outside the office, I’m particularly passionate about motorsports and mountain biking.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 09 > Xiaomi completes registration of its electric vehicle business, paving the way for a potential Mi car
Enrico Frahn, 2021-09- 2 (Update: 2021-09- 2)