Xiaomi Motors plans to invest $10 billion in car manufacturing within 10 years

In order to achieve the goal of becoming one of the top five automakers in the world, Xiaomi Auto plans to invest $10 billion in auto R&D and production within 10 years. The initial investment has reached 10 billion yuan. According to Lei Jun, chairman and CEO of Xiaomi, the total expenditure of Xiaomi in car manufacturing is about 30 billion yuan.