TECH - Xiaomi CEO Lei Jun Sets High Expectations In EV: 'Came Into Car Building With An Aim To Win' | Benzinga
Chinese tech giant Xiaomi is making a bold move into the electric vehicle (EV) industry, with substantial investment in its first model.
What Happened: Xiaomi’s CEO Lei Jun has announced high aspirations for the company’s first EV model, as per a CnEVPost report on Monday. The interview with state-run CCTV reveals that Xiaomi has poured over RMB 10 billion ($1.4 billion) into R&D for the EV, an investment that exceeds industry standards by a wide margin.
“I came into car building with an aim to win,” Lei Jun said.
He is banking on proven auto technologies and robust investment to secure Xiaomi’s place in the car market. While acknowledging the challenges that come with entering the automotive sector, Lei remains optimistic about the company’s ability to navigate these hurdles.