Xiaomi to Open Automobile Plant in Beijing With Annual Output of 300,000 Automobiles

Chinese language smartphone large Xiaomi will construct a plant that may produce 300,000 cars once a year in Beijing for its electrical car unit, government within the capital mentioned on Saturday.

The plant will likely be built in two stages and Xiaomi will even constructed its auto unit’s headquarters, gross sales, and analysis workplaces within the Beijing Financial and Technological Building Zone, the government-backed financial construction company Beijing E-The town mentioned on its authentic WeChat account.

Beijing E-The town mentioned it expected the plant achieving mass manufacturing in 2024, a objective introduced via Xiaomi’s Leader Government Lei Jun in October.

In March, Xiaomi mentioned it might decide to making an investment $10 billion (kind of Rs. 75,000 crores) in a brand new electrical automobile department over 10 years. The corporate finished the industry registration of its EV unit in overdue August.

The corporate has been opening 1000’s of shops to spur home gross sales enlargement for its smartphone industry however ultimately intends to make use of those retail outlets as a channel for its plans to promote electrical cars.

© Thomson Reuters 2021