Xiaomi

Battery swap was questionable as a huge investment model a few years ago, but with encouragement from the Chinese government, more and more players are adopting it.

Xiaomi is hiring for a number of self-driving-related positions, hinting that the smartphone giant may locate its R&D center in Beijing.

BYD Chairman and President Wang Chuanfu has clarified the comments about Xiaomi after they sparked widespread discussion.

Lei Jun, chairman of Chinese smartphone giant Xiaomi, visited the research and development center of carmaker Great Wall Motor.

"The point is that the three years you are prepared to invest cannot be bought with money. Losing RMB 5 billion may not be a big deal if the strategy is going in the wrong direction, but losing three years of time is significant."

Xiaomi has tried to poach Hu Zhengnan, director of the automaker Geely Research Institute, with a salary of up to RMB 1 billion ($156.37 million), including equity incentives.

On April 6, Xiaomi CEO Lei Jun launched a poll on Weibo asking fans whether the Xiaomi car business should use the Xiaomi brand. The vast majority of participants chose to use the brand.

Xiaomi's car seems to be a little further away from hitting the road than expected.

Xiaomi's phones are highly competitive for their strong performance at low prices, and now its fans want the company to bring that tradition to the car segment as well. The company seems inclined to heed this user suggestion.

Xiaomi announced its entry into the smart electric vehicle market on March 30, with an initial investment of RMB 10 billion and an expected investment of $10 billion over the next 10 years.