Xiaomi is advancing its electric vehicle ambitions as its wholly owned unit, Xiaomi Jingxi Technology, secures a 50-year lease for a 485,134-square-meter (~119.88-acre) industrial site in Beijing's Economic-Technological Development Area (BETDA), also known as Yizhuang New Town. The deal, worth CNY635 million (approx. US$88.4 million), was confirmed by the Beijing Municipal Planning and Natural Resources Commission
NIO has launched a new chip design subsidiary — Anhui Shenji Technology — in a strategic move to become a full-stack provider of smart driving technologies. The unit will support NIO's vehicle platforms and expand into supplying chips to external OEMs, while laying the groundwork for future fundraising and strategic investor participation