{"id":408034,"date":"2021-03-31T08:42:44","date_gmt":"2021-03-31T03:12:44","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=408034"},"modified":"2021-03-31T09:21:21","modified_gmt":"2021-03-31T03:51:21","slug":"chinas-xiaomi-announces-smart-ev-business-to-invest-10-bn-over-10-years","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/chinas-xiaomi-announces-smart-ev-business-to-invest-10-bn-over-10-years\/","title":{"rendered":"China&#8217;s Xiaomi announces smart EV business, to invest $10 bn over 10 years"},"content":{"rendered":"<p>SHANGHAI (Reuters) &#8211; Chinese smartphone maker Xiaomi Corp has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced on Tuesday in a filing.<\/p>\n<p>The firm will initially invest 10 billion yuan ($1.52 billion) in the wholly-owned subsidiary, with a total investment goal of $10 billion over the next ten years. <\/p>\n<p>Xiaomi CEO Lei Jun will also serve as CEO of the smart electric vehicle unit, the company added.<\/p>\n<p>The company&#8217;s move into the EV industry follows similar steps by other tech giants, both in China and overseas.<\/p>\n<p>In January, Chinese search giant Baidu Inc announced it would develop an EV unit via a partnership with domestic car maker Geely Automobile Holdings Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI (Reuters) &#8211; Chinese smartphone maker Xiaomi Corp has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced on Tuesday in a filing. The firm will initially invest 10 billion yuan ($1.52 billion) in the wholly-owned subsidiary, with a total investment goal of $10 billion over the next ten years. Xiaomi CEO Lei Jun will also serve as CEO of the smart electric vehicle unit, the company added. The company&#8217;s move into the EV industry follows similar steps by other tech giants, both in China and overseas. In January, Chinese search giant Baidu [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-408034","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/408034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=408034"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/408034\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=408034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=408034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=408034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}