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Xiaomi to Open Car Plant in Beijing With Annual Output of 300,000 Vehicles, Government Says

Xiaomi to Open Car Plant in Beijing With Annual Output of 300,000 Vehicles, Government Says

In March, Xiaomi said it would commit to investing $10 billion (roughly Rs. 75,000 crores) in a new electric car division over 10 years.

By Reuters | Updated: 27 November 2021 15:20 IST

Xiaomi to Open Car Plant in Beijing With Annual Output of 300,000 Vehicles, Government Says

Photo Credit: Twitter/ Xiaomi

Xiaomi will construct its car plant in two phases

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Highlights

Xiaomi is establishing its auto unit's offices in the Beijing ETD Zone
The plant is anticipated to reach mass production in 2024
Xiaomi completed registration of its EV unit in late August

Chinese smartphone giant Xiaomi will build a plant that can produce 300,000 vehicles annually in Beijing for its electric vehicle unit, authorities in the capital said on Saturday.

The plant will be constructed in two phases and Xiaomi will also built its auto unit's headquarters, sales, and research offices in the Beijing Economic and Technological Development Zone, the government-backed economic development agency Beijing E-Town said on its official WeChat account.

Beijing E-Town said it anticipated the plant reaching mass production in 2024, a goal announced by Xiaomi's Chief Executive Lei Jun in October.

Xiaomi CEO Says Firm to Mass Produce Its Own Cars in H1 2024

In March, Xiaomi said it would commit to investing $10 billion (roughly Rs. 75,000 crores) in a new electric car division over 10 years. The company completed the business registration of its EV unit in late August.

The company has been opening thousands of stores to spur domestic sales growth for its smartphone business but eventually intends to use these shops as a channel for its plans to sell electric vehicles.

© Thomson Reuters 2021

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