One of the world’s smartphone-making majors, Xiaomi, expects to break into the ever-expanding electric vehicle market by establishing a Beijing plant capable of producing as many as 300,000 vehicles a year, from as soon as 2024.
On Saturday, the Beijing-based corporation signed an agreement with the committee of the Beijing Economic-Technological Development Zone to land the ambitious car project in Yizhuang, a suburb southeast of the Chinese capital.
The new plant will be built in two phases with Xiaomi to create its auto unit’s headquarters, sales and research offices as well, the local government announced in a WeChat post.—TLTP
