Xiaomi’s affiliated company adds sale of battery swapping facility into business scope

Shanghai (Gasgoo)- Youpin Information Technology Co.,Ltd., an affiliated company of Xiaomi's e-commerce platform Youpin, has included the sale of new energy vehicle (NEV)-related electrical accessories and battery swapping facilities into its business scope, according to the business information provider Qichacha.

Photo credit: Xiaomi

Founded in 2018, the company involves a registered capital of 50 million yuan ($7.748 million) and is 70% controlled by Lei Jun, founder, chairman, and CEO of Xiaomi. Its line of business includes operation of Internet culture, online sales, ticket agency service, and wholesale cosmetics, according to Qichacha.

The new business change is regarded by some industry insiders as part of preparations for Xiaomi’s EV development.

Xiaomi announced its foray into electric vehicle (EV) sphere on March 30, 2021. The company plans to invest about $10 billion over the next decade in manufacturing EVs, and Lei Jun will lead the new standalone EV division.

Xiaomi recently launched a hiring spree in Beijing with the plan to bring a host of engineers for autonomous driving business, according to the company's official website. The engineers are recruited for such professional posts as data platform, in-car basic architecture, decision-making & planning, millimeter-wave algorithm, embedded software, high-definition map, algorithm optimization, simulation platform, and sensors. They will all work in Haidian District, Beijing.

The job listing triggered a speculation that Xiaomi intends to locate the R&D headquarters of its automotive business in Beijing. However, as of now, the rumor has not been confirmed by Xiaomi yet.