Xiaomi Automobile Co., Ltd. was incorporated

This morning, Xiaomi Automobile Co., Ltd. was registered!

Xiaomi Automobile Co., Ltd. has completed business registration, the registered capital is 10 billion RMB, Mr. LeiJun personally as the legal representative of the company. This is the first important milestone of Xiaomi Auto's growth, Mr. Lei personally led the team, and the car-making project officially started on the fast track!

Remember Lei's speech announcing the car-making at the conference in late March 2021? He said that Xiaomi will invest $10 billion in the next ten years to build cars, with the first investment of 10 billion RMB, and that he will personally lead the team and bet his entire reputation in life for Xiaomi cars.

Ever since the announcement of car building, Xiaomi Auto's dynamics have been in the spotlight. Not long ago, Lei took to Weibo to recruit talent for Xiaomi Auto's self-driving department.

In the five months since the announcement of the decision to build a car, the Xiaomi Auto team has conducted a lot of user research and industry chain visits, with more than 2,000 interviews, visited and communicated with more than 10 industry peers and dozens of industry partners, while pressing ahead with the product definition and team building of the car. Up to now, we have received more than 20,000 resumes, and after careful selection, we have assembled a team of about 300 people.

In addition, on August 25, the Group announced the acquisition of DEEPMOTION TECH, an autonomous driving technology company, for a total transaction amount of approximately USD 77.37 million (approximately RMB 503 million), reserving us with cutting-edge technologies and top talents in the automotive industry. We will continue to invite talents from all over the world who are interested in the electric smart car industry to join us, please send your resume to: [email protected]. Looking forward to your arrival!

At present, Xiaomi has 16,000 engineers and will invest about 10 billion RMB in R&D in 2020. We are well prepared in terms of talent reserve, R&D investment and technology accumulation. For example, our technical advantages in artificial intelligence, IoT intelligent ecology, new material processes and other fields can form a strong support for the automotive business. We are confident in building the smart electric car loved by our rice fan friends and building a better intelligent life ecology!

The steady development of Xiaomi Group provides a solid foundation and strong support for the growth of Xiaomi Auto. Xiaomi Group's Q2 2021 financial results show that the Group's revenue and net profit hit another record high, with Q2 revenue of 87.8 billion yuan, up 64% year-on-year. Adjusted net profit was 6.3 billion yuan, up 87.4% year-on-year, once again setting a new single-quarter high record, with R&D investment growing 56.5% in parallel. On this basis, Xiaomi Auto has achieved rapid team building and invested heavily in key technologies such as autonomous driving. Today, Xiaomi Auto Co., Ltd. was officially incorporated and will continue to accelerate the pace of progress.