Xiaomi’s dual-line car manufacturing: holding company’s Smartmi technology prepares to build vehicles

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36Kr learned from multiple sources on Monday that Smartmi Technology, an eco-chain company controlled by Xiaomi, had joined the carmaking project. In addition, Ma Yongdong, the former head of the electric vehicle project at PATAC, leads the vehicle business of Smartmi. In addition, many BAIC Group electrical architecture employees have recently joined Smartmi. At the time of publication, Smartmi Technology has yet to respond to this news.

More indicative of Smartmi Technology’s intention to build a car is that some car design companies are already in contact with Smartmi to connect with the design of the vehicle. “Smartmi’s automotive manufacturing branch is also the passenger car, and the first car is an SUV. According to sources, Smartmi Technology’s car manufacturing business currently remains independent from Xiaomi Auto and has not received any obvious support from Xiaomi’s administrative system.

Smartmi Technology is a company in the Xiaomi ecological chain specializing in air conditioners and air purifiers. Unlike other Xiaomi eco-chain companies, it is a holding subsidiary of Xiaomi, while other eco-chain companies such as Roborock and Dreame Technology have only a small stake. in capital of Xiaomi.

SEE ALSO: Xiaomi Auto signs contract to build factory in Yizhuang, Beijing in two phases

In addition, public commercial information shows that Liu De, co-founder of Xiaomi, owns more than 90% of the capital of Beijing Smartmi and has real control over it. Liu De is the initiator of Xiaomi Eco-Chain and often represents the company by owning shares in eco-chain companies.

At the end of March of this year, Xiaomi announced its intention to invest 10 billion dollars in 10 years, with the first batch of 10 billion yuan (157.16 million dollars). In September, Xiaomi Auto Company was officially established, with its headquarters in Beijing and its factory in Yizhuang. The Xiaomi Auto team has grown rapidly, with more than 500 people at present, and its R&D centers are located in Beijing, Shanghai and Wuhan. Xiaomi previously announced that Xiaomi Auto’s first car will be launched in the first half of 2024.

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