Chinese smartphone maker Xiaomi to invest $10b in new EV unit over 10 yrs

Chinese smartphone maker Xiaomi to invest $10b in new EV unit over 10 yrs

A man uses his mobile phone in front of a screen showing a logo of Xiaomi at the launch ceremony of the Mi Note in Beijing, January 15, 2015. REUTERS/Jason Lee

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.

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