Xiaomi Steps Toward EV Goal With Regulatory Nod, Reuters Reports
--Smartphone maker Xiaomi has taken a step toward its aim of adding cars to its product lineup after getting the green light from China's state planner to produce electric vehicles, Reuters reports, citing unnamed sources.
--According to Reuters, Xiaomi got the nod earlier this month from the National Development and Reform Commission which oversees new investments and production capacity in China's auto industry, but still needs approval from the Ministry of Industry and Information.
--Xiaomi has previously said it aims to invest about $10 billion to develop its automobile business.
Full story: bit.ly/47GnYrb
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August 23, 2023 03:53 ET (07:53 GMT)
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