Xiaomi is investing $10 billion to join the electric car race
CNN
A big smartphone maker is getting into electric cars. And it's not Apple.
China's Xiaomi announced Tuesday that it will invest $10 billion over the next decade in a subsidiary focused on the "smart electric vehicle business." The company said in a stock market filing that the new unit will be led by billionaire CEO Lei Jun. The initial investment will be worth 10 billion yuan ($1.5 billion), the company said.More Related News
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