Xiaomi registers its second car company

Xiaomi announced its plans to enter the smart electric vehicle (EV) industry earlier this year. To understand the importance of launching its electric vehicles, the Chinese tech giant unveiled Xiaomi Electric Vehicles Co., Ltd., a product through which it hopes to achieve its dream of producing electric vehicles.

Perhaps, in an effort to add more power to the movement, Xiaomi has now unveiled its second car company, Xiaomi Automotive Technology Co., Ltd. The Beijing-based company is said to have a registered capital of 1 billion yuan, and its business scope includes new energy vehicles, vehicle manufacturing and technology development.

xiaomi car

The registered capital for this company is one tenth of the capital of Xiaomi Automobile Company, which started operating in September with a registered capital of 10 billion yuan. It is not possible to say for sure what the scope of the business will be, but it seems that the new company will take care of the essentials and accessories, while the first company will be responsible for the actual production of the car.

Xiaomi co-founder Lee Joon recently revealed that the brand is expected to start mass production of electric vehicles in the first half of 2024. The company appears to have explored all aspects of the emerging electric vehicle business as Xiaomi CEO Lu Weibing revealed that Xiaomi Home stores will be responsible for sales and after-sales service in the future.

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