Source: South China Morning PostXiaomi, one of China’s largest smartphone and gadget makers, is joining the fray in the country’s booming electric vehicle industry, announcing a long-anticipated plan to produce all-electric cars in the world’s largest market.The Beijing-based producer of the Mi smartphone brand will kick its electric car project off with an initial investment of 10 billion yuan (US$1.5 billion), and expects to invest up to US$10 billion into it over the next 10 years, Xiaomi said in a statement after trading…Read More