The company Xiaomi, confirmed that it will venture into the electric vehicles, al invest US $ 1.5 billion that it will spend on this strategy over the next decade.
The new division of the Chinese technology company It will be led by Lei Jun, billionaire and co-founder of the firm.
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“We have a deep pocket for this project. I am fully aware of the risks of automovile industry. I am also aware that the project will take at least three to five years with tens of billions of investmentLei said.
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Xiaomi’s decision is not a surprise, as some others smartphone manufacturers they have already announced their foray into this electric car market.
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Depending on the progress, Xiaomi could end up investing a total of 100 billion yuan in the project in just three years, taking into account external funding.
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China could be a leader in autonomous ship technology by 2025
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