Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Instagram Outage Disrupts Thousands of U.S. Users 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Xiaomi first entered the business sphere as a Chinese smartphone maker in 2010 and after 11 years, it is venturing into something new. The Beijing-based company just filed its registration to begin its electric vehicle (EV) business.
This marks Xiaomi’s official entrance to the auto market and it said that its EV division has arrived in the “substantial development phase.” The company simply named its electric vehicle manufacturing business Xiaomi EV, Inc., and as previously reported, ¥10 billion or around $1.55 billion was invested for it.
As per CNBC, it was in March when Xiaomi first announced that it will be launching its EV biz and revealed the amount allotted to fund the project. The firm also shared that so far, Xiaomi EV, has 300 employees now and it is being headed by Xiaomi’s founder and chief executive officer, Lei Jun.
The well-known smartphone said that in the last five months, its team in the EV business division carried out massive user research that involved interviewing more than 2,000 individuals for the survey and visited at least 10 business peers and partners. At this time, Xiaomi EV is said to be continually hiring as it is also in the stage of forming teams in the company.
Last month, Xiaomi confirmed during its financial report for the second quarter of 2021 that it will acquire Deepmotion, an autonomous driving solution provider that includes an intelligent advanced driver assistance system, for $77.37 million. The company is also said to be in talks to buy a stake in real estate giant Evergrande Group’s auto unit and apparently, these moves are related to its plans of expanding into the EV biz.
Now, as it jumps into the EV bandwagon, Xiaomi will now be competing with other startups in China such as Xpeng and Nio. It will also be facing the foreign brand, Tesla, as it is already being sold in the region.
Finally, Reuters reported that the electric car business will be CEO Lei Jun’s “last major entrepreneurial project” and he said this himself. Currently, he is leading the firm well, with the Xiaomi brand finally becoming the second top-selling smartphone brand in the world after South Korea’s Samsung.
