Xiaomi entry adds spice to e-car sector By MA SI/LI FUSHENG | China Daily | Updated: 2021-04-01 09:06 Share CLOSE The logo of Xiaomi is seen inside the company's office in Bengaluru, India, on Jan 18, 2018. [Photo/Agencies] Xiaomi Corp's decision to foray into the electric car business will further intensify competition in the booming sector, and it remains to be seen how the Chinese smartphone company will leverage its research and development strength to explore a completely new area, experts said. Their comments came after Lei Jun, chairman of Xiaomi, said the company will set up a wholly owned unit for the smart electric vehicle business, with an initial investment of 10 billion yuan ($1.52 billion). The total investment over the next decade is estimated to be $10 billion.