Xiaomi's ten-year $10 billion plan to build a car has been announced

On March 30, Xiaomi officially announced its entry into the auto manufacturing business, with an initial investment of 10 billion yuan and a total investment of $10 billion expected over the next 10 years.
Xiaomi also said it hopes to enable users around the world to enjoy a ubiquitous intelligent life with high-quality smart electric cars.Rumors about a Xiaomi car have been circulating many times before, and it was recently reported that Xiaomi is in talks with Great Wall Motor to use its factory to build cars.To be sure, Xiaomi's entry into the auto manufacturing field will still adopt the "contract manufacturing" model commonly used by Xiaomi Ecology before.
Today, millet officially announced the official building car, will undoubtedly enter the vehicle manufacturing field.It remains to be seen what impact Xiaomi's entry will have on new car makers such as Nio, Ideal and Xiaopeng.Xiaomi will use its customary "extreme cost performance" to quickly grab the market share of these car companies, perhaps through the next step of Xiaomi, will soon see some clue.