Earlier this year, Xiaomi announced plans to enter the smart electric vehicle industry. In recognition of the importance of the push to launch its own electric car, the Chinese company announced Xiaomi EV Company Limited, a company that is expected to achieve the dream of manufacturing electric vehicles.
In an effort to add to the driving spirit, the company has now launched its second car company known as Xiaomi Automobile Technology Co., Ltd. The Beijing-listed company is said to have a capital of 1 billion yuan and its business scope includes new energy vehicles, vehicle manufacturing and technology development.
Reporting from Gizmochina (22/11), the registered capital is one-tenth of that of Xiaomi Automobile Co., Ltd which started in September with a registered capital of 10 billion yuan. It's not clear yet what the scope of the business will be, but it's thought the new company will tackle peripherals and accessories. While the first company will be responsible for the manufacture of the vehicle intact.
Xiaomi founder Lei Jun recently revealed that the brand is expected to start mass production of its own electric cars in the first half of 2024. The company seems to have got all aspects of the electric vehicle business. This was marked by a statement by Xiaomi executive Lu Weibing who revealed that the Xiaomi Home store would be in charge of sales and after-sales service in the future.