Xiaomi stays quiet on auto production report

Xiaomi (1810) has confirmed it will develop vehicles, led by its founder Lei Jun, mainland media LatePost reported.

It will be regarded as a strategic decision, but the specific form and path have not yet been determined.

Xiaomi has not responded to the report.

Shares jumped by 12 percent after it hit the day-low of HK$27.5. Xiaomi closed 6 percent higher at HK$30.6.