Why does Xiaomi want to develop its own battery packs? Lei Jun: Five years ago, when we started making cars, we were determined to make the batteries ourselves.

Xiaomi founder, chairman and CEO Lei Jun, along with several Xiaomi experts, live-streamed from the Xiaomi car factory. This was Lei Jun's first live-stream after the Spring Festival holiday. During the live stream, Lei Jun talked about why Xiaomi decided to develop its own battery pack. Lei Jun said that in order for excellent OEMs to succeed in producing new energy vehicles, they must focus a lot on the "three electric" technologies, especially in battery technology. "Five years ago, when we started making cars, we were determined to do a good job with the batteries, so we formed a large and strong battery research and development team. In order to understand this matter well, we also established a battery pack factory and deeply involved ourselves in the manufacturing of the battery pack."