Xiaomi has repeatedly denied the rumors about electric car development earlier, despite we used to get insider details about the electric cars Xiaomi had been working on, however, now is becoming more limpid, on March 30, as the dust settled on an announcement, Xiaomi officially “came into the electric car segment.“
At the recent Xiaomi new product launch conference, Xiaomi CEO Lei Jun announced that Xiaomi has officially entered the smart electric vehicle industry. Lei Jun said that Xiaomi Auto is the last major entrepreneurial project in his life, and this time he is willing to crush all his reputation and fight for Xiaomi Auto.
A few days ago, it was reported that Xiaomi Technology Co., Ltd. applied for the registration of the “Miqi” trademark and applied for a total of 23 classifications. The international classification includes 4 categories, fuel oils, and fats; 9 categories, scientific instruments; 42 categories, design research, etc. There are 23 categories.
Xiaomi had previously registered the “Xiaomi Auto” trademark, some netizens believed that this was the official name of Xiaomi Auto, and now Xiaomi has applied for the registration of the “Mi Auto” trademark, which has aroused heated discussions among users.
It is worth noting that at the press conference, Lei Jun revealed that in the past 75 days, there have been 85 industry visits, in-depth exchanges with more than 200 automotive industry veterans, 4 internal management discussions, and 2 formal board meetings.
According to the announcement issued by Xiaomi Group on March 30, the company’s board of directors formally approved the establishment of the smart electric vehicle business. The company plans to establish a wholly-owned subsidiary to be responsible for the smart electric vehicle business. The initial investment is 10 billion Yuan, and the investment is estimated to be USD 10 billion in the next 10 years. Mr. Lei Jun, the CEO of the Group, will concurrently serve as the CEO of the smart electric vehicle business.
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