Lei Jun, the founder of Xiaomi, has just recently paid a visit to the headquarters of FAW Group in China. The visit from the CEO was apparently for talks related to a new car manufacturing partnership deal for the former’s first car.

According to a Pandaily report (Source), the senior executive of the Chinese tech giant visited the HQ of the known automobile maker in China’s Jilin Province. During his visit to Jilin, Lei Jun event met with the province’s top government officials as well, which includes Jing Junhai, secretary of the Jilin Provincial Committee of the Communist Party of China. The reason for this visit, as Lei Jun said, was to strengthen the cooperation with Jilin automotive enterprises and to better solidify an automobile production foundation.

Secretary Jing stated that “Xiaomi has strong R&D and production capacity in the fields of consumer electronics and intelligent manufacturing. Jilin has a good industrial foundation, strong scientific research strength and sufficient talent reserve. Therefore, the cooperation between the two sides in the fields of automobile manufacturing has broad prospects. I hope Xiaomi can strengthen cooperation with FAW as well as Jilin’s auto industry chain.”

In the past, the founder of the company had even reportedly visited the Great Wall Motor’s Research and Development Center in China. Furthermore, the recent move is in line with its plans on setting up a supply chain and relation with various car brands before the production of its own car. Media reports have also stated that Xiaomi Auto aims on releasing a new car each year for the next three years after the first model is launched in 2024. The company also expects to sell 900,000 vehicles in the first three years after its initial release.

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Earlier this year, China-based technology giant Xiaomi announced that it’s entering the electric vehicle business and since then, the company has been trying to find a partner in the auto manufacturing sector.

Now, the company has officially announced that the industrial and commercial registration of the Xiaomi Automobile Co. Ltd. has been completed. The firm has been set up with registration capital of 10 billion yuan and Lei Jun, founder, Chairman, and CEO of the Xiaomi Group is leading this new entity.

Since the announcement of Xiaomi entering the smart cars sector about five months ago, the company claims that it has built a team of around 300 members for the smart car business from more than 20,000 applicants. It’s not yet done with the hiring process and is looking to invite more people to join the team.

The Chinese company has been in talks with several car manufacturers for a partnership but nothing has been materialized so far. But in the recent development, it was reported that Xiaomi is looking to acquire a stake in China Evergrande’s Electric Vehicle unit.

A few weeks ago, Lei Jun visited the SAIC headquarters, adding the company to the list of other auto manufacturers that he visited, including BYD, Great Wall, Wuling, and some other well-known car-making companies.

In the past few months, Xiaomi’s management has had 85 industry visits, in-depth exchanges with more than 200 automotive industry veterans, four internal management discussions, and two formal board meetings.

Xiaomi is aiming to offer high-quality smart electric vehicles to its users globally to enjoy ubiquitous smart life, says Lei Jun. Although the initial investment of the company is about 10 billion yuan, it is set to invest around 60 billion yuan over the next 10 years as the business grows.

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