Xiaomi solely introduced its EV Factory in March, however it already has grand ambitions. In accordance with Reuters, the financial improvement company Beijing E-City has confirmed that Xiaomi will construct an EV manufacturing unit within the metropolis able to producing as much as 300,000 autos per yr. The plant will probably be inbuilt two phases and will begin mass manufacturing in 2024.
The corporate may even arrange its EV headquarters, analysis and gross sales divisions in Beijing, the company mentioned. Xiaomi already plans to make use of its retail shops to assist promote automobiles.
There are nonetheless many unknowns for Xiaomi’s automobile technique, together with the preliminary fashions and worldwide growth. The profitable tech model expects to take a position the equal of $10 billion within the EV division over 10 years, however hasn’t shared a lot element past that. The Beijing manufacturing unit says extra — it suggests Xiaomi intends to grow to be a mainstream (if initially small) EV producer that competes not simply with Chinese language rivals like Nio and Xpeng, however vital overseas automakers like Tesla.
