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Xiaomi Officially Registers Electric Vehicle Business Led by CEO Lei Jun

Xiaomi on Wednesday, 1 September, announced that it has officially completed the business registration of its electric vehicle business, as reported by CNBC.

Credit: Xiaomi

The new subsidiary is called Xiaomi EV, Inc. and will be led by the group’s founder and CEO Lei Jun. It opened with a registered capital of 10 billion yuan, which is equivalent to about US$1.55 billion.