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Tech giants bet on smart-car revolution
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Nio Inc electric vehicles being rolled off the production line during an event at the automaker’s factory in Hefei, China, on April 7, 2021.
PHOTO: BLOOMBERG
By Liu Yukun, Zhang Erchi, He Shujing and Han Wei
BEIJING (CAIXIN GLOBAL) -The electric car sector is becoming increasingly crowded as more tech companies jump on the bandwagon, pushing a radical shake-up in the 138-year-old global auto industry.
Chinese smartphone giant Xiaomi Corp became the latest newcomer in the electric vehicle (EV) race, with a plan to invest US$10 billion (S$13 billion) over the next decade.
