With the new 12S series, Xiaomi has hoped to compete with rivals by offering high-end smartphones at a competitive price.
Autonomous driving technologies are the most crucial part of intelligent and electric vehicles, president Wang said.
Chinese smartphone maker Xiaomi released the new Redmi Note phones on Tuesday, marking a further move into higher-end markets for the brand.
US investors will be prohibited from buying Xiaomi shares and will have to divest their holdings by November, according to the executive order.
Leading automakers have been embracing high-voltage battery systems, a technology and a longer driving range.
Xiaomi asked the court remove it from a defense blacklist that bans Americans from investing in companies linked to the Chinese military.
The verdict means that Xiaomi has finally shaken off a geopolitical burden that weighed down its shares since earlier this year.
The cell phone maker known as ‘the Apple of China’ has backed EV companies Nio and Xpeng. Its entry is expected to shake up China’s car market.
Xiaomi has hired Yu Liguo, a former senior executive at state-owned automaker BAIC Motor, to lead its autonomous electric vehicle project.
The world’s fourth-biggest phone maker Xiaomi now pledges to develop high-quality EVs with a ‘best-in-class’ connected device ecosystem.