Authorities in Beijing announced on Saturday that Chinese smartphone giant Xiaomi would develop a plant in the capital that would be capable of producing 300,000 automobiles per year for its electric vehicle segment.
According to the government-backed economic development agency Beijing E-official Town’s WeChat account, the facility will be erected in two parts, and Xiaomi will also build its vehicle unit’s headquarters, sales, and research offices in the Beijing Economic and Technological Development Zone.
Xiaomi’s Chief Executive, Lei Jun, declared in October that the facility would reach commercial production in 2024. Beijing E-Town said it expected the plant to begin mass production in 2024. Xiaomi announced in March that it would invest $10 billion over ten years in a new electric car segment. In late August, the corporation completed the business registration of its EV segment.
