Xiaomi EV now has 300 employees and the business is led by the group’s founder and CEO Lei Jun.

Earlier this month, Xiaomi announced it had acquired autonomous driving firm Deepmotion for around $77.37 million to “enhance the technological competitiveness” of its electric vehicle business.

The Chinese brand is planning to invest an estimated $10 billion in total in EV business over the course of the next 10 years.

However, a clear roadmap of…

how the new EV business will run is not yet clear.

Its not clear whether it will manufacture complete electric vehicles or would focus on manufacturing components (hardware and software) for EVs.

One thing is for sure though, the company will develop self-driving technology.

Xiaomi is jumping into an incredibly crowded space in China among start-ups like Nio and Xpeng as well established players including Tesla and Warren Buffett-backed BYD, a Chinese automaker.

If it creates Electric Car then Tesla’s market share will tumble because Xiaomi’s concept is to sell products at half price so that production and Industries in competing countries shut down.

That is how China became the leading Industry of the World.

Wherever Xiaomi goes…. other competitor will make a loss… irrespective whether Xiaomi makes money or NOT.

This is the same with AMAZON… where ever Amazon goes… others will suffer and Amazon need not necessarily make profit… as long as its revenue increases.