Xiaomi’s $10 billion electric vehicles project is said to hit a regulatory roadblock
Xiaomi announced to invest CNY 10 billion(Around $1.5 billion) in Research & Development of Electric Vehicles.
Xiaomi Beijing-based smartphone company reveals that Xiaomi has faced difficulty to get regulatory approval for its electric vehicles project.
China National Development & Reform Commission is not giving them approval for the required license, to Xiaomi, which applied a month ago.
As per Lei jun promise, Xiaomi’s first electric car is ready to launch next month.
Xiaomi already bought Beijing-based autonomous driving technology startup “DeepMotion”, for self-driving technology, with an initial investment of $77.4 million
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