CEO Lei Jun, who has said Xiaomi's foray into EVs will be his last major entrepreneurial project, posted on Saturday pictures of people holding a banner saying 'Fighting for Xiaomi Auto" on his personal Weibo social media account.
Xiaomi India said it will continue to bring the latest technology and innovation for all with "our products and services in the future". 📲 Xiaomi Discontinues Mi Financial Services in India To Focus on Core Business Services.
There is something going on with Xiaomi India’s operations. The company is facing challenges as the ED has frozen its Rs 5551 crore and now it is battling rumours that it is moving its operations out of India.
The competent authority appointed under Section 37A of the Foreign Exchange Management Act (FEMA) on September 30th confirmed the seizure order of Rs 5,551.27 crore passed against Chinese phone maker Xiaomi India Private Limited by the Enforcement Directorate (ED), an ED official said. Get more Technology News and Business News on Zee Business.
An authority appointed under the Foreign Exchange Management Act has found that the amount was transferred to three foreign companies in violation of the law.