Investing.com -- In a significant move towards global expansion of electric vehicles, China’s Xiaomi (OTC: XIACF ) is planning to establish a research and development center in Munich, Germany. The center will concentrate on electric vehicle technology.

The news came to light on Wednesday when a Xiaomi spokesperson disclosed the plans to Nikkei . The spokesperson confirmed the plans for the R&D center but refrained from providing further details. The establishment of the research center is a clear indication of Xiaomi’s strategic direction towards electric vehicles.

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