Xiaomi Completes Business Registration of Electric Vehicle Xiaomi EV

Are you a big fan of electric vehicles? Do you love to use Xiaomi products? If yes, then this is good news for you! Chinese popular Smartphone brand Xiaomi confirmed on Wednesday about the official business registration of the Xiaomi electric vehicle unit Xiaomi EV. All are prepared to market this new electric vehicle into the automotive sector globally and achieve a milestone of the highest-selling electric bike.

Electric vehicle Xiaomi EV project and investment  

As per the Xiaomi officials, the new unit of the electric vehicle will be called Xiaomi EV. Recently Xiaomi said they had registered the capital of CNY around 10 billion (which is around 11,290 crores), and Lei Jun, the CEO of Xiaomi, became the legal representative.

Recently, Xiaomi has hired almost 300 staff to join the EV unit, and Xiaomi officials also confirmed that the talent recruitment process would continue in the future.

Xiaomi EV expected price  

The expected price of Xiaomi EV is somewhere around $15,000(100,000 yuan) to $45,000(300,000). This clearly shows that this is not going to be a budget segment vehicle but will definitely stay in the segment of the mid-to-high-end- range.

Xiaomi Future investment plans and projects

The top-selling smartphone manufacturer, which recently becomes the world’s second most reputed smartphone brand behind Samsung in the second quarter, confirmed its chance to launch electric cars in March, and officials also confirmed that they are ready to invest $10 billion (Around 73,020 crores) over the next 10 years in the field of electric vehicles.

In an interview, Lei Jun, the CEO of Xiaomi, said that the electric vehicles project would be his most important and major entrepreneurial project. He is also eagerly waiting for this project to make it successful in the global market.

Xiaomi EV


In the Wednesday interview, Xiaomi stated that it has conducted more than 2k interview surveys and contacted over 10 industry partners regarding the upcoming automotive project strategy.

The official has also revealed some of the detailed strategies for their upcoming automotive projects and the vehicle types they want to launch in the future in the global market.

Last week, Xiaomi confirmed the purchase of autonomous driving technology start-up Deepmotion for a huge over $77 million and gave clarity behind the purchase, which is nothing but the effort to bring improvement in research and development.

Talks with several Automakers

According to a report, earlier in August, Xiaomi had held talks with Evergrande Group, which is known as one of the real estate giants of beleaguered and wants to purchase the stake of its automotive unit.

In response to this viral news, Xiaomi’s official spokesperson clearly wrote on their social media account that they are in touch with several auto manufacturing brands but have not yet confirmed which one to deal with.

The remarkable growth of Xiaomi

According to the statistics, Xiaomi has surpassed the second-quarter earnings, which exceeded analysts’ estimations. According to the report, the net profit of Xiaomi has increased from 64% to 87.4% consistently. In the global market, the share of this company has to compete with its rival brand Huawei. When it comes to the electric vehicle of Xiaomi EV, most Xiaomi lovers are waiting for its launch, and no doubt this Xiaomi EV vehicle is going to be popular soon after its launch in the global market.

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