A Xiaomi subsidiary has acquired a new plot of land in Beijing’s Yizhuang area for RMB 635 million ($88.4 million), in a move that could support the smartphone maker’s growing electric vehicle (EV) business, according to an announcement by local authorities.
The 485,134 square meter site, secured by Xiaomi Jingxi Technology Co Ltd, is located adjacent to the first and second phases of Xiaomi’s EV manufacturing facility. The land has been designated for a new energy intelligent connected vehicle manufacturing project, signaling the company’s continued investment in its automotive ambitions.
Xiaomi, which formally announced its entry into the EV industry in March 2021, is currently developing a factory in two stages in Beijing, each with an annual capacity of 150,000 vehicles. The first phase was completed in 2023, while construction of the second phase is nearing completion and is expected to finish by mid-June, according to local media reports.
The second phase will undergo inspections by Xiaomi and housing officials before formal production begins, likely in July or August.
Xiaomi’s first EV, the SU7 sedan, was launched in March this year and has seen strong demand, with customers currently facing a waiting period of up to 51 weeks. In May, the company delivered over 28,000 SU7 units, marking the eighth consecutive month of deliveries exceeding 20,000 units.
Xiaomi CEO Lei Jun confirmed in March that the company had raised its 2025 delivery target to 350,000 vehicles, up from 300,000 previously. “Xiaomi EV had been working to boost production capacity and has made some progress,” Lei said.
Looking ahead, Xiaomi is preparing to launch its second vehicle, the YU7, an SUV model aimed at the Chinese market’s preference for larger vehicles. Originally planned for July, the launch has been moved up to the end of June, Lei announced on June 16.