Xiaomi is also entering the electromobility market and plans to launch its first electric car as early as 2024. A new factory is to be built in Beijing for this purpose, where around 300,000 vehicles are to roll off the production line each year.
Xiaomi electric car is coming
In March, Xiaomi had officially announced its entry into the electric car business. With this, the currently third-largest smartphone manufacturer in the world is entering another market and will henceforth offer electric cars in addition to smartphones, vacuum cleaners, household electronics and much more.
There are currently no details about the models on offer, but as planned, a subsidiary with 1.3 billion euros in start-up capital was established in August to take care of the electromobility sector from now on. In October, Group CEO Lei Jun stated that the first Xiaomi electric cars should start rolling off the production line as early as 2024.
Xiaomi Beijing factory to produce 300,000 cars per year
Now, a report from Reuters has revealed the first details of the manufacturing plant. The factory is to be built in a state-owned development zone in Beijing and will produce around 300,000 Xiaomi electric cars per year.
Construction is expected to proceed in two phases, with research facilities and offices for sales teams to be built on site alongside the factory to optimize all processes and shorten distances.
According to the report, Xiaomi plans to invest around ten billion U.S. dollars in e-car manufacturing, marketing and sales over the next ten years. It would be conceivable for Xiaomi to use the most recently purchased store spaces around the world as stores for its e-cars. It is not yet known whether the Xiaomi electric cars will also make it to Europe.