Lei Jun said on Weibo: Xiaomi’s board of directors formally approved this resolution today, and Xiaomi’s smart electric vehicle project was officially established. Regarding car building, I will talk to you in detail at the press conference tonight.
The Xiaomi Group announced on the Hong Kong Stock Exchange that the company’s board of directors formally approved the establishment of the smart electric vehicle business .
The company plans to establish a wholly-owned subsidiary to be responsible for the smart electric vehicle business. The initial investment is RMB 10 billion, and the investment is estimated to be USD 10 billion in the next 10 years .
Mr. Lei Jun, the CEO of the Group, will concurrently serve as the CEO of the smart electric vehicle business .
Since Xiaomi was recently rumored to build a car, its stock price has risen continuously. Xiaomi’s car-building plans were all responded by Xiaomi, saying: “All are subject to announcement.”
Dali Financial Comments: Internet companies plan to build a car, Baidu announced before returning to Hong Kong to go public, announcing its entry, and the stock price continued to rise. Drive Baidu to return to the Thousand Dollar Club. Xiaomi will also enter the game to build cars, which will boost the stock price and market value. NIO, a new force in car-making, ideal cars, Xiaopeng Motors, face the strong invasion of Xiaomi, how to compete?
In fact, Internet companies such as Alibaba, Tencent, Baidu, and Xiaomi are ambitious and enter the auto manufacturing industry to become systems, software, applications, and content providers in the automotive field. They have natural technical reserves and R&D advantages. To put it more bluntly, the aim of building a car on the Internet has never been to assemble a car in the traditional sense. What they want to build is an intelligent system that empowers cars, and technology is the core.