CEO xiaomi, Lei Jun, said in a recent interview with Investor Day that the company has big ambitions for the future, including ranking among the top five car manufacturers in the world. While this goal may seem optimistic, the rapid growth of the electric vehicle industry in recent years opens the possibility of some traditional manufacturers losing ground to new players.

It is important to note that Xiaomi 100% owns Xiaomi Auto, through greater use of company resources. Over the past three years, Xiaomi has opened 10,000 brick and mortar stores in China, which has helped Xiaomi Auto greatly in distribution. In addition, Xiaomi announced that its full ownership of Xiaomi Auto is due to the reuse of the resources of the company as a whole.

“The field of vehicles has been around for over a century. As long as you’re optimistic about the automotive industry, it’s never too late. The development of Chinese electric vehicle manufacturers is ahead of Xiaomi by 6-7 years, but Xiaomi’s advantage lies in electronic technology and user experience, and the planned delivery in 2024 is perfect in time.” Jun said.

In support of its electric vehicle project, Xiaomi Auto has announced a huge increase in investment, with more than $439 million in funding and more than 2,300 professionals to develop cutting-edge technologies. In addition, Xiaomi’s first car has recently passed a rigorous winter test, showing rapid progress in realizing its automotive ambitions.

Xiaomi’s vision is to offer consumers seamless integration into every aspect of life, including smartphones, smart homes and cars. The company strives to be a comprehensive and innovative solution for its customers.

Xiaomi fined $148,000 for electric vehicle design leak

Xiaomi is suing Beijing Molding Technology for $148,000 (about R$466,000) for leaking confidential information about an electric vehicle company project.

According to Xiaomi, Beijing Molding Technology obtained information about the project through internal sources and passed it on to unauthorized third parties on January 22, causing significant damage to the company. Xiaomi is seeking legal compensation for these damages.

The details indicate that Beijing Molding accidentally leaked the design of the front and rear bumpers of the Xiaomi MS11, which is yet to be released. The company said the drafts were published by subcontractors and are not directly responsible for the incident. Despite the denial of guilt, the confidentiality agreement signed between them, the former will be held accountable. Therefore, she will have to pay a fine of 1 million Chinese yuan.

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Source: ArenaEV

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