Xiaomi has registered a car company for its electric vehicle (EV) segment
Named ‘Xiaomi EV.Inc’, it’s a wholly-owned subsidiary of Xiaomi
Xiaomi co-founder Lei Jun will head the section
The company plans to invest around $10 bn in the next 10 years
The company is yet to reveal the launch date of its first EV
The first EV will be either a sedan or an SUV
The electric car will cost between RMB 100,000 and RMB 300,000
Last week, Xiaomi had acquired Deepmotion, an autonomous driving technology company
The acquisition aims at supporting Xiaomi’s efforts towards the new segment
