Xiaomi Corp Xiaomi Corp is intended to invest about $ 10 billion over the next decade for the manufacture of electric cars, and initiate its largest investment at all to enter the electric car market booming in China.
According to Arab Net, the company said in a statement that the co-founder Lee John will lead a new stand-alone department investing 10 billion yuan ($ 1.5 billion) initially in the manufacture of smart cars.
Chinese smart phone maker joins technology giants, having announced Apple and Huawei, breakthrough auto industry.
What a person familiar with the matter before the announcement said Shaumi could invest a total of $ 15.23 billion in the project over the next three years, including external financing. The person who has asked not to be identified because plans, especially since the company will contribute about 60% of the vulnerable amount and plan to collect the rest of the funds, said Bloomberg, and Arabic.
Shawami has become the latest company announces its entry into a busy electric car yard, where a group of automakers are competing from Tesla, to emerging local companies such as New, and Exbing to get a slice of the largest electric car market in the world.
Baidu also teaches Chinese search - cooperation with Jelly to build electric cars. Where electric car sales in China is estimated at more than 50% this year alone.
While Shaumi announced that they will cooperate with external suppliers to assemble its electric car as in its smartphones, Reuters revealed last week's rejected Great Wall plans for cooperation with Shawami to manufacture its electric car.
While someone else said to have led to review the possibilities of electric cars for several months, and a final decision was made to enter the arena in recent weeks. The person added that Shaumi has already hired engineers to work on a program to be included in its cars.
