XIACF - Report: Smartphone Maker Xiaomi to Start Producing Electric Vehicles
First, the Apple (NASDAQ: AAPL) Car, and now this: On Friday, Reuters reported that Chinese smartphone maker Xiaomi (OTC: XIACF) plans to begin manufacturing electric vehicles (EVs).
Citing "three people with direct knowledge of the matter," the news agency wrote that Xiaomi would make its automobiles in a factory owned and operated by Great Wall Motor Company (OTC: GWLLF) . The latter is a major Chinese manufacturer concentrating on SUVs and pickups. It controls the Haval, ORA, WEY, and GWM Pickup brands.
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Report: Smartphone Maker Xiaomi to Start Producing Electric Vehicles