HONG KONG: Xiaomi Corp has won the approval of China’s state planner to manufacture electric vehicles (EVs), said two people with knowledge of the matter, marking a major step towards the smartphone maker’s goal of producing cars by early next year.
The National Development and Reform Commission (NDRC), which regulates new investments and production capacity in China’s auto industry, gave the nod for EV manufacturing to Beijing-based Xiaomi earlier this month, said the people. Xiaomi’s venture is only the fourth since end-2017 to win NDRC approval.
