Officials in the east China city of Hefei are in talks with Xiaomi to set up an electric vehicle (EV) plant, 36Kr reports. Hefei-based JAC Motors is expected to assemble cars for Xiaomi, said the report. JAC Motors also assembles cars for Chinese EV maker Nio in Hefei. Xiaomi announced it would invest $10 billion into making EVs in March. Officials from cities including Xi’an and Wuhan have also expressed interest in hosting the plant. [36Kr, in Chinese]
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Posted inHeavy Hitters
Xiaomi says US court has revoked investment ban
The verdict means that Xiaomi has finally shaken off a geopolitical burden that weighed down its shares since earlier this year.
Posted inNews Feed
Xiaomi to set up electric car manufacturing plant in Beijing
Consumer electronics brand Xiaomi will set up an electric car manufacturing plant and establish its auto unit headquarters in the Beijing Economic and Technological Development Zone, according to a statement published by authorities in the capital on Saturday. The factory will have a production capacity of 300,000 vehicles with mass production scheduled for 2024, local authorities said. The Chinese smartphone giant has backed a slew of car-related startups this year as part of its RMB 10 billion ($1.52 billion) investment plan to build a complete auto supply chain. [Beijing E-Town statement, in Chinese]
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Drive I/O | Chips, batteries, AV: Xiaomi’s most high-profile auto investments of the year
Xiaomi is pouring billions of RMB into the auto sector and placing some big bets on multiple startups to build a complete auto supply chain.
Posted inHeavy Hitters
Xiaomi reportedly plotting electric car play
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.
Posted inNews Feed
Xiaomi EV expects to begin mass production in the first half of 2024: Lei Jun
Xiaomi is targeting the first half of 2024 to mass produce its first electric vehicle, CEO Lei Jun reportedly said on Tuesday at its annual investor meeting. The company announced an electric vehicle subsidiary in March. Lei said the project is progressing ahead of schedule. Xiaomi shares rose more than 4.68% to HK$22.35 in Tuesday’s morning session. [The Paper, in Chinese]
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China Tech Investor: Kuaishou, Tencent, and Xiaomi earnings, with Michael Norris
In this episode, the guys are joined by regular guest Michael Norris to review some Q2 earnings highlights of Kuaishou, Tencent, and Xiaomi.
Posted inTurf Wars
Xiaomi shares plunge after US investment ban
US investors will be prohibited from buying Xiaomi shares and will have to divest their holdings by November, according to the executive order.
Posted inHeavy Hitters
Xiaomi sues US government over investment ban
Xiaomi asked the court remove it from a defense blacklist that bans Americans from investing in companies linked to the Chinese military.
Posted inHeavy Hitters
Xiaomi invests $1.5 billion in fully owned EV business
The world’s fourth-biggest phone maker Xiaomi now pledges to develop high-quality EVs with a ‘best-in-class’ connected device ecosystem.
