Xiaomi says it will invest more in EVs; auto plan seen on track

Firm's car R&D staff members number 3,000 now; Q3 revenue up 0.6% to $9.9b

Chinese smartphone maker Xiaomi Corp said it is beefing up investment in its electric vehicle business, with car-related research and development personnel reaching about 3,000.

The Hong Kong-listed company, however, did not disclose its current level of investment in EVs nor details of its planned investment expansion.

It made the comments after a government website revealed the specifications of Xiaomi cars. Those details need to be approved by the local regulator before the cars can be put up for sale.