Xiaomi Corporation ("Xiaomi" or the "Group") today announced that Xiaomi EV, Inc. has completed the business registration with a registered capital of RMB 10 billion. Lei Jun, Founder, Chairman and CEO of Xiaomi, is the legal representative of Xiaomi EV, Inc. This marks a key milestone of the much anticipated smart electric vehicle (EV) initiative which has officially entered a substantial development phase.
With Lei Jun Investing RMB 10 Billion and Completing
the Company Registration of Xiaomi EV, Inc.
Towards the end of March 2021, Lei Jun, the Founder of Xiaomi, was announcing in his speech the company's EV business initiative and Xiaomi is committed to investing an estimated USD 10 billion in total in EV business over the course of the next 10 years, with an initial investment of RMB 10 billion. He himself will lead the team and stake his entire reputation on fighting for the EV business of Xiaomi. Today, Lei Jun has become the legal representative of Xiaomi EV, Inc. and he is leading the team to double down on the EV manufacturing to turn his promises into actions, showing his firm determination and faith.
