Xiaomi , Apple and Huawei enter the field of electric vehicles
Xiaomi, Apple and Huawei enter the field of electric vehicles
Xiaomi, Apple and Huawei are the biggest smartphone makers in the smart electric car business.
Xiaomi will initially invest 10 billion yuan ($ 1.52 billion) in its electric vehicle subsidiary, with a target of $ 10 billion over the next 10 years.
According to Reuters, Xiaomi CEO Lee Joon will be the CEO of the company’s smart electric vehicle unit.
Xiaomi’s entry into the electric vehicle industry follows similar actions by other tech giants in China and other countries. Chinese Internet company Baidu announced in January that it would form an electric vehicle unit in partnership with Geely.
Reuters reported in February that Huawei, China’s largest maker of telecommunications equipment and smartphones, was in talks with state-owned Changan Automobile Company and other companies to produce electric vehicles.
Numerous reports also indicate that the American company Apple has been planning to enter the electric car market for a long time.
Reuters reported last week that Xiaomi was in talks with Great Wall Motor to help produce electric vehicles, but the company did not comment on the report.
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