Xiaomi starts developing its own car. Responsible for the project appointed, shares are growing

According to a Chinese source, citing investors close to the head of Xiaomi Lei Jun and others, the company is rapidly deploying a project to create its own electric car: it will start within a month or two. Xiaomi cars will be positioned in much the same way as Xiaopeng cars (in particular, Xiaopeng P7) in China: these will be top models with a greater emphasis on advanced information technology. Xiaomi veteran Wang Chuan has been appointed in charge of the project. On this news, Xiaomi Group shares on the Hong Kong Stock Exchange rose 2.6%.

Wang Chuan’s personality should be given special attention: probably, there would not be a more competent person in all of Xiaomi. He is the co-founder and director of strategy for Xiaomi. Wang Chuan joined the company in 2012 and headed one of the most profitable departments at the moment – TV development. Then he worked in the HR department of the Xiaomi headquarters in China and in the department of large household appliances. Wang Chuan has an excellent understanding of how a product is created: from concept development and networking in the component supply chain to production and distribution. The very foundation that he laid in Xiaomi TV – the most profitable direction of the company after smartphones and mobile devices – says a lot.

Lei Zun reportedly met with Li Bin, founder of Weilai Automobile, in late February for advice on various automotive issues. In addition, various sources report that Wang Chuan, on behalf of the Xiaomi Group, is looking for workers in this area, studying technologies and production processes. In terms of talent, Wang Chuan is already in contact with some of the top managers of various automotive companies – obviously, candidates for key positions in the automotive division of Xiaomi are being searched among them.