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Xiaomi invests in a battery-swapping company, but it’s far from entering the market

ArenaEV
According to a corporate listing in China, Zhejiang Xinglixing New Energy Technology Co., Ltd has registered a new capital inflow and shareholder restructuring. The investment comes from a Xiaomi-backed company named Hanxing Venture Capital, bumping up the company’s capital from RMB 100 million ($14.8 million) to RMB 130 million ($19.3 million). Now, Hanxing Venture Capital holds about 23% of Zhejiang… Read more…