What Xiaomi’s billionaire CEO Lei Jun is reading to build EVs

The technology giant is eyeing a production tie-up with Beijing Automotive Group Co to acquire a license to make cars after trouble getting approval from Chinese regulators. — Reuters

Xiaomi Corp co-founder Lei Jun may be busy launching new smartphones, but it seems he’s still laser focused on his carmaking ambitions.

The billionaire businessman has been asking friends in the auto industry for books to read to better understand the sector, according to a post he shared on Weibo, China’s Twitter-esque social media service. Lei is personally spearheading a US$10 billion project to make Xiaomi-branded electric vehicles by 2024.