Xiaomi to invest about $10 bn over the next 10 years in the manufacturing of electric cars. The billionaire co-founder of Xiaomi Lei Jun will lead the new standalone vertical and spearhead the smartphone manufacture’s entry into the huge but unfamiliar and competitive territory. Initially, Xiaomi will invest $1.5 bn in the manufacturing of smart vehicle and ramp it up rapidly in the years to come. Xiaomi’s stock rose 6.1% Wednesday in Hong Kong.