Xiaomi announces smart EV business, to invest US$10 billion over ten years
Chinese smartphone maker Xiaomi Corp will invest US$10 billion over the next ten years in a new smart electric vehicle (EV) business division, the ...
BookmarkSHANGHAI: Chinese smartphone maker Xiaomi Corp has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced on Tuesday in a filing.The firm will initially invest 10 billion yuan (US$1.52 billion) in the wholly-owned subsidiary, with a total investment goal of US$10 billion over the next ten years.
AdvertisementAdvertisementXiaomi CEO Lei Jun will also serve as CEO of the smart electric vehicle unit, the company added.(Reporting by Josh Horwitz, editing by Louise Heavens, Kirsten Donovan) Read more: CNA »
Triad Trails: Former secret society members lead tour on Chinatown’s seedy past
SINGAPORE — Pointing to a row of shophouses along Pagoda Street leading up to Chinatown MRT Station, a heavily-tattooed man tells the group behind him that the shops used to be opium dens in the 19th century.