Not just electronic devices: Xiaomi is about to open an automobile plant in Beijing, capable of producing 300,000 vehicles annually.
Xiaomi’s car plant: what’s behind it
Chinese smartphone giant Xiaomi is in the process of building a plant capable of producing 300,000 vehicles per year. The car plant will be built in Beijing and will produce exclusively electric vehicles. This is reported by reuters, which also provides us with further details on the project. In fact, we know that the plant will be built in two phases with Xiaomi who will also build the headquarters of its automotive unit. The entire area, located in one of the most technologically advanced areas of Beijing, will see the birth of various development and sales offices. The Chinese government seems to be behind the move, as there is the support of the project Beijing E-Town. The latter is the development agency officially recognized by the Chinese government.
Just Beijing E-Town has declared that the plant will reach mass production in 2024. This is also a goal already announced by the CEO of Xiaomi Lei Jun last October. Peralto already in March, Xiaomi had made it known that it would be committed to investing 10 billion dollars in ten years in a new division of electric cars.
The company also opened thousands of new stores to spur smartphone sales growth. But it would not be surprising to find that in reality, these assets will be used for the sale of electric vehicles.