Chinese smartphone giant Xiaomi has big plans for the auto industry. This is evident from the intention to open a factory where they want to build hundreds of thousands of cars every year.
Xiaomi announced earlier this year that it wants to dive into the ever-expanding electric car market. That was settled in September with the creation of Xiaomi EV. The perhaps not very imaginatively named company is one to keep an eye on. In October, it revealed that it will begin mass production of electric cars in the first half of 2024, and more concrete numbers are now known.
news agency Reuters reports, based on sources from China, that Xiaomi wants to build a factory in the capital Beijing. No less than 300,000 cars have to roll off the production line there every year. It will not be just a single factory, but a huge site in Beijing’s progressive Economic and Technological Development Area. There will be the Xiaomi EV headquarters as well as the R&D headquarters and factory.
Xiaomi will invest approximately €8.5 billion in Xiaomi EV over the next ten years. It is still not entirely clear how people are going to approach it, whether it really comes with cars designed completely from scratch, or whether it will link up with an existing manufacturer. However, the former becomes an increasingly likely scenario with these new plans. Earlier it seemed that Xiaomi would continue on the remains of Borgward.
– Thanks for information from Autoweek.nl