Xiaomi Group CEO Lei Jun clarifies misunderstanding of "10 billion yuan for car manufacturing" and sets sales target of 300,000 vehicles by 2025

Lei Jun, CEO of Xiaomi Group, recently responded to the misunderstanding about "10 billion to build cars" in a live broadcast. He made it clear that the company's investment in automobile research and development exceeded 13 billion, plus the cost of factory construction and employee wages, the total investment is about 30 billion. Although Xiaomi Auto has achieved good results, Lei Jun emphasized that it should not be deified, and he is just an ordinary person. He also set sales targets for 2024 and 2025, which are 135,000 and 300,000 vehicles respectively.