Xiaomi officially enters automotive industry as Xiaomi EV Company Limited to manufacture a smart electric vehicle

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Redmi SUV image courtesy of c.mi.com

Today, Xiaomi just announced the corporation has completed a business registration of Xiaomi EV Company Limited. EV stands for electric vehicle and this officially marks Xiaomi's first debut and a milestone in the automotive industry.

With a registered capital of 10 billion Yuan for Xiaomi EV Company Limited, Xiaomi will focus on the development of smart electric vehicles led by Lei Jun, the Founder of Xiaomi. Lei Jun hopes to revitalize the automotive industry by introducing an innovative potential development. The new company is now made up of 300 employees and Xiaomi also acquired an autonomous driving technology company Deepmotion Tech on August 25th.

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During the 2021 Q2 earnings call on August 25th, Wang Xiang, Partner and President of Xiaomi, expressed that he felt the immense love from the automotive industry for Xiaomi as the company has received over 20,000 resumes. Lei Jun only started looking to recruit talents on July 28th so that's quite impressive. Xiaomi said like-minded talented individuals are still welcome to join the new EV group.

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