Otodiva.com — Xiaomi EV is officially operational. Smartphone manufacturer from China, Xiaomi now does not only claim to focus on the smart device or IoT business to support lifestyle. Now the company has officially entered the smart electric vehicle industry. They have formalized the name of the new company, Xiaomi EV.
To develop Xiaomi EV, The company from China admitted that it had invested funds up to 10 billion yuan or equivalent to IDR 22 trillion. This step is an important milestone in the realization of Xiaomi's smart electric vehicle initiative, which has entered the development phase.
Previously, at the end of March 2021, Xiaomi CEO and Founder Lei Jun announced the electric vehicle business initiative and Xiaomi's commitment to invest approx 10 billion USD in 10 next year. Lei Jun himself has officially become Xiaomi EV's legal representative and will directly lead the production team. This is proof of commitment, determination, and confidence to fight for the development of the electric vehicle business in the world.
Xiaomi hopes that the company can revitalize the automotive industry with innovation and leading technology. Therefore, within five months of the business initiation being announced, Xiaomi EV team has done more than 2.000 survey and visit 10 industry players to understand the industrial chain as a whole. This is done so that Xiaomi can formulate the final product and form the right team to develop Xiaomi EV.
In the Q2 earnings call 2021, Xiaomi President Wang Xiang revealed that Xiaomi has received an extraordinary response from automotive industry players through 20.000 job application indicating interest in joining the company. Xiaomi itself recorded total revenue 87,8 billion yuan or equivalent growth 64% year-on-year Q2 2021, and adjusted profit for the same period was 6,3 billion yuan, grow 87,4% year-on-year. Both of them broke Xiaomi's record for business results so far.
Besides that, since 25 August, Xiaomi has announced the company's move to acquire autonomous vehicle technology company Deepmotion Tech. This shows Xiaomi's readiness and focus on building automotive technology together with a number of leading experts in their field. With approx 16.000 engineer supported by research funds 10 billion yuan in year 2020, Xiaomi is confident that it can gather the best experts to bring innovationArtificial intelligence (AI), product materials, and other technologies that will support the development of Xiaomi EV.
Currently the Xiaomi EV development team is growing rapidly and is still opening up opportunities for talented individuals in the world to join. With a number of achievements recorded by Xiaomi in the five months since it was launched, Xiaomi proves its readiness to start a new journey with technology, innovation, and the performance of the Xiaomi EV is something the world community is looking forward to.
