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Xiaomi announces that it is getting into the electric car business


Xiaomi will invest a total of 10 billion dollars over the next 10 years.

In the second part of its "Mega Launch", of which we have made a complete summary, the Chinese manufacturer Xiaomi, in addition to presenting your first folding terminal, the Xiaomi Mi Mix Fold, and some home products, too communicated his arrival to a sector dominated by one of Elon Musk's companies, autonomous electric cars.

Xiaomi wants to compete with Tesla with its own electric cars

Xiaomi wants to compete with Tesla with its own electric cars

Xiaomi wants to take advantage of its experience in the mobile technology market to compete with Tesla

The Chinese giant has, without a doubt, the most extensive catalog of technological devices among all current manufacturers of mobile terminals and has now just announced, through its CEO, Lei Jun, that you will be fully involved in a new line of business, of which there were already rumors for some time, which is none other than that of the smart electric vehicles.

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The top leader of Xiaomi has explained that his arrival in this new sector will be based on an initial investment of 10 billion yuan, 1,300,000,0000 euros to change, and that everything will be managed through a subsidiary company owned by your company.

In this sense, the Chinese brand has estimated that it will invest a total of 10 billion dollars, about eight and a half million euros, over the next 10 years to have its own fleet of autonomous electric vehicles, which expects to premiere in 2023, as we already told you a few days ago.

Xiaomi CEO hopes to launch his first electric car within a couple of years

Xiaomi CEO hopes to launch his first electric car within a couple of years

Lei Jun has stated that this decision has been made after much deliberation among the great executives of the Chinese giant and has relied on its latest financial results that were presented on March 24.

In them, it is revealed that Xiaomi's global smartphone shipments have reached 146 million, and within these 10 million correspond to premium mobile terminals.

In addition to these good mobile sales data, Xiaomi has also confirmed that at the end of 2020 it had a cash reserve of 108 billion yuan, about 14,000 million euros, which it will use to finance its arrival on the market of smart electric cars.

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We still do not know when we will see the first electric vehicle of the Chinese brand nor if it will arrive in Spain, but we will be attentive to all the news that are produced for keep you informed promptly.

Related topics: Technology, Xiaomi