Xiaomi’s $10 Billion Car Project Hits Regulatory Barrier
- Smartphone giant is building electric vehicle plant in Beijing
- EV unit shepherded by co-founder needs approval from authority
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Xiaomi Corp. is facing difficulties getting regulatory approval for its electric vehicle project in China, an unexpected hurdle for the smartphone giant’s $10 billion carmaking endeavor.
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.