{"id":408035,"date":"2021-03-31T08:44:46","date_gmt":"2021-03-31T03:14:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=408035"},"modified":"2021-03-31T09:21:55","modified_gmt":"2021-03-31T03:51:55","slug":"chinas-xiaomi-to-invest-10-billion-in-new-ev-unit-over-10-years","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/chinas-xiaomi-to-invest-10-billion-in-new-ev-unit-over-10-years\/","title":{"rendered":"China&#8217;s Xiaomi to invest $10 billion in new EV unit over 10 years"},"content":{"rendered":"<p>SHANGHAI (Reuters) &#8211; China&#8217;s Xiaomi Corp announced plans on Tuesday to invest $10 billion in a new smart electric vehicle (EV) business, and separately to release a self-developed computing chip, as the group expanded out of its core smartphone business. <\/p>\n<p>At a livestreamed event held on Tuesday, Xiaomi CEO Lei Jun, who will also head the smart EV unit, said the division will be the &#8220;last major entrepreneurial project&#8221; in his life. <\/p>\n<p>The firm will initially invest 10 billion yuan ($1.52 billion) in the unit, with a total investment goal of $10 billion over the next ten years, it said in a filing published earlier on the Hong Kong stock exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI (Reuters) &#8211; China&#8217;s Xiaomi Corp announced plans on Tuesday to invest $10 billion in a new smart electric vehicle (EV) business, and separately to release a self-developed computing chip, as the group expanded out of its core smartphone business. At a livestreamed event held on Tuesday, Xiaomi CEO Lei Jun, who will also head the smart EV unit, said the division will be the &#8220;last major entrepreneurial project&#8221; in his life. The firm will initially invest 10 billion yuan ($1.52 billion) in the unit, with a total investment goal of $10 billion over the next ten years, it said [&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-408035","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\/408035","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=408035"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/408035\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=408035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=408035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=408035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}