The fever for electric vehicle (EV) construction continues in 2021. In March, Xiaomi Corporation, a leading smartphone manufacturer based in Beijing, announced it would invest US$10 billion in smart EVs over the course of 10 years. Other leading smartphone producers including Apple and Huawei have announced forays into vehicle manufacturing. Samsung, Vivo and OPPO have also expanded their businesses in autonomous driving and car networking. Semiconductor and battery R&D capacities have enabled mobile phone producers to venture into the EV manufacturing industry at a time when automobile emissions have generated growing concerns particularly when China is aiming to peak its carbon emissions by 2030. Public data shows that in 2020, global shipment of smartphones dropped 17 percent year-on-year, further pushing enterprises to redefine their strategic goals in the next 10 years.
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