XIAOMI group recently officially announced that it plans to set up a wholly-owned subsidiary to be responsible for the intelligent electric vehicle business. The initial investment is 10 billion yuan, and the investment is expected to be 10 billion US dollars in the next 10 years.

Mr. Lei Jun, CEO of the group, will also be the CEO of the smart electric vehicle business.

Issued by Tom, M&S, Apr. 26, 2021.

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