Xiaomi is preparing to dominate the electric vehicles space; sets up new EV company

Xiaomi is also aggressively hiring and investing into automobiles development talent.

Alfred Lee

7 Sep, 2021

Xiaomi is preparing to dominate the electric vehicles space; sets up new EV company | BEAMSTART News

Xiaomi, one of China's leading consumer electronics companies, is preparing to aggressively enter the electric vehicles space.

Since the company's announcement of entering the industry back in March, Xiaomi has been laying the groundwork to put their grand plans into motion.

What's Happening?

  • In a recent social media post by company CEO, Lei Jun, he announced that Xiaomi Auto Co. Ltd is now officially established, with a registered capital of $1.5 billion.
  • The company is also aggressively hiring, with plans to recruit at least 500 new talents focused on L4 automated driving technology alone.
  • Xiaomi has also begun applying for a series of trademarks and patents related to automobiles.
  • Xiaomi has also been investing heavily in artificial intelligence and vehicle hardware technology, making a series of 8 investments in chip companies earlier this year.

Why It Matters

  • Back in March, Xiaomi announced that the company plans to invest $10 billion into the electric vehicles industry over the next 10 years.
  • Since then, the company has been moving swiftly to lay the necessary foundations in order to build electric vehicles at scale.
  • Xiaomi, best known for affordable consumer electronics products, could bring significant competition into the growing electric vehicles (EV) market currently dominated by Nio, Xpeng, Tesla, among others.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Legal Counsel, Asia

Gallons & Grapes Pte Ltd

Buona Vista, Singapore

Full Time

SGD 9000 — SGD 10500 monthly

English-Korean Freelance Transcriber in Singapore

Elite Asia


Contract / Freelance

Salary Undisclosed

Account Manager (Hybrid)


New York, NY, United States

Full Time

Salary Undisclosed

Customer Service Representative

Gamer's Hideout Sdn. Bhd.

Dataran Prima, Petaling Jaya, Malaysia

Full Time

MYR 3000 — MYR 4000 monthly



SIngapore, Singapore

Contract / Freelance

SGD 9 — SGD 11 monthly

English Technical/Legal Writer

Pacston Technology Group

Kuala Lumpur, Malaysia

Full Time

USD 20000 — USD 60000 monthly

Junior Accounts Cum Admin Assistant


Kallang, Singapore

Full Time

SGD 1600 — SGD 1800 monthly

Head of Developers


Manila, Philippines

Full Time

USD 2000 monthly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).