Beijing
It's official: Chinese smartphone and electronics maker Xiaomi is launching into electric vehicles.
On September 1, its founder, Lei Jun, proudly announced to his 23 million subscribers on Weibo (the local equivalent of Twitter) the creation of an entity dedicated to this new activity, registered under the name of Xiaomi Auto. .
A crucial step for a project made public last spring.
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The “Chinese Steve Jobs” will himself pilot the subsidiary, with a capital of 10 billion yuan (1.5 billion dollars).
The group plans to invest up to 65 billion yuan in it over the next 10 years, or 10 billion dollars.
By comparison Volkswagen, world number two, will invest 46 billion in five years in its electric shift.
Founded in 2010 in Beijing, Xiaomi has seen tremendous success in offering high-end cell phones at an affordable price.
Today, the world number two in smartphones, behind the Korean giant Samsung,
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