Xiaomi Reportedly Registers Second Car Company

Xiaomi reportedly registered its second car company.

XIAOMI — The Chinese tech giant reportedly registered its second car company as it planned to mass-produce its first EV model in 2024.

Photo source: Gizmochina

To recall, the Chinese tech giant announced earlier this year its plans to enter the smart electric vehicle (EV) industry.

In order to harp on the importance of the drive to launch its own electric vehicle, the Chinese tech giant unveiled the Xiaomi EV Company Limited, the EV through which the company hoped to achieve the dream of manufacturing electric vehicles.

Gizmochina reported that the Chinese tech giant has revealed its second car company known as Xiaomi Automobile Technology Co., Ltd.

READ ALSO: Xiaomi Officially Registers Own Electric Vehicle Business

The company which was registered in Beijing was said to have a registered capital of CNY 1 billion and the business scope included vehicle manufacturing, new energy vehicles, and technology development.

According to a report, the registered capital was 1/10 that of the Xiaomi Automobile Co., Ltd which was kickstarted in September with a registered capital of CNY 10 billion.

Lei Jun, the founder of the Chinese tech giant, recently disclosed that the Chinese tech giant was expected to start mass-producing its own electric vehicle in the first half of 2024.

According to a report, Xiaomi’s exec Lu Weibing recently disclosed that the Xiaomi Home stores will be responsible for the after-sale services and sales in the future.

Meanwhile, Bloomberg cited people familiar with the matter as saying that Apple was pushing to accelerate the development of its own EV and was also refocusing the project around full self-driving capabilities as well.

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