Xiaomi Deny Rumors Regarding MiCar Development: But There Is Still An Interest

According to the rumour mill, the Chinese smartphone manufacturer, Xiaomi is planning to enter electric car production with a self-developed vehicle. Xiaomi founder Lei Jun has now commented directly on it.

In the meantime, there is now a public statement from Xiaomi. The Xiaomi expresses itself is not necessarily unusual, because the stock company is obliged to comment on rumours that can lead to price fluctuations, at least to investors. The statement is available as a PDF and relates directly to the media reports.

No entry planned? Or is it? Still Unclear

But you don’t get very clever out of it, because Xiaomi boss Lei Jun talks a little around the bush. It reads: “This announcement is being made on a voluntary basis by Xiaomi Corporation (the” Company “, together with its subsidiaries, the” Group “). The Group has released certain media articles regarding the Group’s possible plans in manufacturing the business The Group has closely followed developments in the electric vehicle industry and has continuously studied relevant industry trends. The Group has not initiated a formal project to investigate the electric vehicle manufacturing business.

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Shareholders and potential investors are advised to exercise caution when trading the company’s shares and other securities. “ Lei Jun had previously spoken of his personal interest in the electric car industry in interviews and was with Elon Musk a few years ago as a guest to see a Tesla factory. The fact that he has now announced that no formal Xiaomi project has been initiated at the moment leaves open whether Xiaomi is sounding out the market and whether there may be further negotiations with other producers.