New Delhi: Chinese smartphone company Xiaomi Corp will build a plant in Beijing producing 300,000 vehicles annually for its electric vehicle unit, officials in the capital said on Saturday.
Government-backed economic development agency Beijing E-Town said on its official WeChat account that the plant will be built in two phases and that Xiaomi will also head its auto unit, sales and research offices in the Beijing Economic and Technological Development Zone. ,
Beijing E-Town said it expects to reach mass production in 2024, a goal announced by Xiaomi’s chief executive Lei Jun in October.
In March, Xiaomi said it would commit to investing $10 billion in a new electric car division over 10 years. The company completed business registration of its EV unit at the end of August. Read also: IRCTC Update: Indian Railways starts Rampath Yatra Express from Maharashtra to Ayodhya
The company is opening thousands of stores for its smartphone business to increase home sales, but eventually intends to use these stores as a channel for its plan to sell electric vehicles. Read also: Samsung quietly announces Galaxy A03 with 48MP camera, check specifications, features
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