Tech NewsXiaomi’s Second Auto Company Officially Registered With Capital of 1 Billion Yuan

DarylNovember 19, 2021
xiaomi
(Source: Xiaomi)

According to the Chinese company data questions system Tianyancha, Xiaomi Automobile Technology Co., Ltd. was established on Thursday with registered resources of 1 billion yuan ($156.65 million), which is the second vehicle company signed up by Xiaomi. Xiaomi founder and chairman Lei Jun is working as the brand-new automobile company’s legal representative, with service covering new electric car production, lithium-ion battery manufacturing as well as various other associated areas. According to shareholders’ details, the firm is wholly had by Xiaomi. Considering that the registration of the first firm Xiaomi Auto in September, Xiaomi’s car building project has actually made additional progress.

At Xiaomi’s springtime brand-new product launch seminar in March this year, Lei Jun said that the company will strive to build Xiaomi Auto with the existing cash reserve of 108 billion yuan, an R&D group of more than 10,000 people, among the leading 3 smart device businesses worldwide as well as the best intelligent ecology worldwide. On September 1, the vehicle business was formally registered, and its very first vehicle production factory set up in Yizhuang, Beijing. Public details show that the company’s first investment in the automobile business is 10 billion yuan, and also it is approximated that financial investment in the following 10 years will be 10 billion bucks.

Additionally, on October 19, the Investor Day, Lei revealed that the progression of the company’s automobile work had much exceeded his expectations which Xiaomi Auto would begin mass-production in the very first half of 2024. Lu Weibing, CEO of Redmi, lately mentioned on Weibo: Xiaomi House would certainly think the responsibility of marketing and also offering Xiaomi Auto in the future, and he contrasted the future wise electric vehicles to a large smartphone plus entire house knowledge.

 

According to public documents, Xiaomi Corporation has applied for several trademarks, including “MiAuto,” “Xiaomi Auto,” “XIAOMICAR” and “MICAR” since April this year. These trademarks involve Class 20 furniture, Class 35 advertising and sales, Class 12 means of transportation and so on of the international classification. Recently, most of them have changed to appear as “registered trademarks” or with a “preliminary announcement.”

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