Xiaomi’s US$10bil car project hits regulatory barrier

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 people familiar with the matter. — Xiaomi

Xiaomi Corp is facing difficulties getting regulatory approval for its electric vehicle project in China, an unexpected hurdle for the smartphone giant’s US$10bil (RM44.49bil) carmaking endeavour.

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 people familiar with the matter.