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Chinese smartphone giant Xiaomi is facing difficulties getting regulatory approval for its EV project in China. The project is worth $10 bln.
The Beijing-based company has been talking to officials at the National Development and Reform Commission about the licensing for months without success, according to Bloomberg.
China has already become the biggest EV market, with American Tesla and several national Chinese companies controlling the market. Xiaomi is one of the later would-be entrants to a Chinese EV sector. Xiaomi's co-founder Lei Jun believes his company’s expertise in connected technologies and building loyal user communities can translate in the world’s biggest EV market.
Getting regulatory approval may delay the company’s plans, while some people at the company hope the project will be eventually green-lighted.
Recently, a Chinese blogger spotted a Xiaomi self-driving test car on the street, which signals the company is getting ahead with developments.
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