Xiaomi has announced a large monetary investment to enter the electric car market. Everything will be managed by the Hong Kong Stock Exchanges
Xiaomi announces its official entry into the world of electric cars. A few days ago a report was published which stated the will of the Chinese giant to expand its activities to produce electric vehicles by relying on Great Wall Motors. Today, during the second day of the great event in which the company presented various innovations on the technological front, formalizing the entrance.
The words of the president of Xiaomi
Lei Jun, Founder, President and CEO of Xiaomi, said, however, that everything will be managed by the Hong Kong Stock Exchanges (HKEX), a wholly owned subsidiary of Xiaomi with an initial investment of RMB 10 billion:
“The decision was made by all Xiaomi partners after numerous consultation phases and this will be the last great entrepreneurial project of my life. I put my personal credibility on the line and I want to give our electric vehicle a future! I am determined to lead my team towards the success of the Xiaomi electric vehicle “.
The decision-making process followed entirely by Lei Jun counted 85 meetings with over 200 industry experts, four internal management debates and two board meetings. But it was above all the support of the Mi Fans and their trust in Xiaomi’s values that pushed the brand towards this final decision.
According to the latest financial results, the company has distributed on the world market 146 million smartphones, ranking among the top three smartphone manufacturers in the world. And with beyond 324.8 million connected devices within the AIoT ecosystem, Xiaomi confirms itself as a leader in the smart home sector.
Lei Jun added:
“Over the next ten years, the electric vehicle market will be the most exciting development area and will become a fundamental part of the Xiaomi ecosystem. The expansion of our AIoT ecosystem is an essential choice for us and represents a further step towards the completion of our vision which aims to provide everyone with innovative technologies. “
What seems clear is that Xiaomi definitely has a plan in mind very ambitious which will bring it into a complex but also rapidly evolving market such as that of electric cars, offering smart electric vehicles to anyone in the world.
From this point of view, Xiaomi will be able to exploit its skills in operating systems and in the IoT sector. The Chinese company thus joins other companies working in the field of technology interested in creating their own electric vehicle, including their own Apple.
What do you think of this announcement? Let us know in the comments and keep following us on the TechGameWorld.com pages where you can find the latest news and more.