Xiaomi begins a new investment in the electric car sector worth 10 billion dollars

The Chinese giant, Xiaomi, announced at an event held in the day before yesterday, the company's upcoming plans to invest in the electric vehicle sector. Xiaomi launched a subsidiary company with an investment of $ 10 billion over the next ten years.

The second Xiaomi event kicked off today with more announcements about the company's products and future plans, and the first announcement by the Chinese giant came to confirm that Xiaomi has taken the first steps to compete in the electric car market.

Xiaomi will start investing in the electric vehicle sector worth 1.5 billion dollars. The electric vehicle subsidiary, led by Lei Jun, CEO of Xiaomi, will also launch.

Expectations indicate that phone manufacturers are heading to compete in a new market in the coming period, and it was the start of the technology giant Apple that is already developing its first release of electric cars, as Apple is currently looking for a company that will provide spare parts for the electric car, while Apple focuses On developing car battery and autonomous driving technology in software and hardware.

On the other hand, some leaks indicated Huawei’s plans to start developing an electric car, and it was also indicated that Huawei had already started talks with Changan Automobil and BluePark New Energy.

It is reported that Samsung is already working on developing electric car batteries, while LG Energy is working on developing EV batteries, so we are awaiting more details about the future of electric cars coming from the phone manufacturing giants.