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Xiaomi to open car plant in Beijing with annual output of 300,000 vehicles – Beijing govt

SHANGHAI, Nov 27 (Reuters) – Chinese smartphone large Xiaomi Corp (1810.HK) will construct a plant that may produce 300,000 vehicles yearly in Beijing for its electrical car unit, authorities in the capital mentioned on Saturday.

The plant will likely be constructed in two phases and Xiaomi will even constructed its auto unit’s headquarters, gross sales and analysis places of work in the Beijing Economic and Technological Development Zone, the federal government-backed financial growth company Beijing E-Town mentioned on its official WeChat account.

Beijing E-Town mentioned it anticipated the plant reaching mass manufacturing in 2024, a aim introduced by Xiaomi’s Chief Executive Lei Jun in October.

In March, Xiaomi mentioned it could commit to investing $10 billion in a brand new electrical car division over 10 years. The firm accomplished the enterprise registration of its EV unit in late August.

The firm has been opening hundreds of shops to spur home gross sales development for its smartphone enterprise however ultimately intends to use these retailers as a channel for its plans to promote electrical vehicles.

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Reporting by Brenda Goh; Editing by William Mallard

The Xiaomi logo is seen at a Xiaomi shop in Shanghai, China May 12, 2021. REUTERS/Aly Song/File Photo

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