Chinese technology giant Xiaomi is facing issues in making progress with its $10 billion automotive venture.has been speaking with officials from the National Development and Reform Commission in China but is facing difficulties in getting regulatory approval for its car project., a source with knowledge of the matter revealed that some Xiaomi executives are hopeful that authorities will soon green-light the project but others suspect that the hurdles will delay the brand’s plans.
Companies seeking to enter China’s burgeoning industry of electric vehicle manufacturers are required to submit documents to prove their financial and technological capabilities. It is understood that this review process can take several months and that sometimes, the government completely rejects applications.
A source suggests that the lack of a carmaking license in China hasn’t slowed down Xiaomi’s early development of its first electric vehicle, nor its plans to establish a large factory near Beijing.