They spread a large amount of false and inaccurate information, which seriously misled the market and disrupted the normal operation of Xiaomi‘s automotive business, Xiaomi said.
(Xiaomi EV in a regulatory filing.)
Chinese smartphone giant Xiaomi has fired three employees from its automotive business, saying they attended unauthorized meetings with investment institutions and spread false information.
In November and December, three former employees of Xiaomi’s automotive business unit attended unauthorized seminars about the unit organized by external brokerage firms and investment institutions for the purpose of collecting consulting fees, according to a statement from the company today.
They intentionally communicated a large amount of false and untrue information, seriously misleading the market and disrupting the normal development of Xiaomi’s automotive business, Xiaomi said.
The three employees, who previously worked in the electric system and software team, stamping and casting team, and quality team of Xiaomi’s automotive business, were dismissed for violating their confidentiality obligations and will be held legally responsible, Xiaomi said.
In addition, on December 17, employees of two local media outlets leaked filmed content despite having signed confidentiality pledges, and they will be held liable for the leaks, including a public apology as well as compensatory fines, Xiaomi said.
Xiaomi officially announced in March 2021 that it was joining the car-making bandwagon, with its first model expected to be officially mass-produced in the first half of 2024.
On November 15, Xiaomi’s first EV model, the SU7, was included in a filing with the Chinese industry regulator, clearing the last major regulatory process for its official launch.
The filing included several photos of Xiaomi SU7 as well as core specification information, which is the primary source through which the public can obtain this information before a new model goes on sale.
Recently, several more images of the Xiaomi SU7 have been circulating on Chinese social media, and they appear to have been leaked in what Xiaomi alleges to be a breach of confidentiality agreements.
(An image of the Xiaomi EV circulating on Chinese social media.)
The Xiaomi SU7 doesn’t seem to be far away from its official release, and company executives are starting to warm up the model.
“I came into car building with an aim to win,” Lei Jun, founder, chairman and CEO of Xiaomi, said in a recent interview with state-owned broadcaster CCTV.
For a typical car company, the investment on the first model is usually 300-400 people, with R&D spending of RMB 1 billion ($140 million) to RMB 2 billion, Lei said.
Xiaomi invested 3,400 engineers in its first model, with the entire R&D investment exceeding RMB 10 billion, he said.
($1 = RMB 7.1386)
Xiaomi CEO has high hopes for 1st EV model with heavy R&D investment
