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Xiaomi confirms launch of electric car business, to invest $10 billion over next decade

After months of rumors, Chinese smartphone giant Xiaomi has finally confirmed the launch of its electric car business, joining the increasingly booming market.

Xiaomi's board of directors has approved the creation of a smart electric vehicle business, the smartphone giant said in an announcement on the Hong Kong Stock Exchange on Tuesday, adding that it plans to set up a wholly-owned subsidiary to handle the business.

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Xiaomi confirms launch of electric car business, to invest $10 billion over next decade

After months of rumors, Chinese smartphone giant Xiaomi has finally confirmed the launch of its electric car business, joining the increasingly booming market.

Xiaomi's board of directors has approved the creation of a smart electric vehicle business, the smartphone giant said in an announcement on the Hong Kong Stock Exchange on Tuesday, adding that it plans to set up a wholly-owned subsidiary to handle the business.

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Yay! More car companies! MORE CHOICES!!!!!!!!!!!!!!!!!!! also more confusion
 

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Yay! More car companies! MORE CHOICES!!!!!!!!!!!!!!!!!!! also more confusion
Driving on the road with all these new car brands and not recognizing most of them can be confusing, but if you're actually buying one for yourself, just make sure you're not part of the founder's class. You can see which ones get good reviews and perform well and then let the founders be the guinea pigs ;)
 
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