Xiaomi announced its plans for the construction of electric vehicles in March, but it already has big ambitions. The economic development agency Beijing E-Town has confirmed that Xiaomi will build an electric vehicle factory in the city capable of producing up to 300,000 vehicles a year. The plant will be built in two phases and should begin mass production in 2024.
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The company will also establish its electric vehicle headquarters, research and sales divisions in Beijing. Xiaomi already plans to use its retail stores to help sell cars.
There are still many unknowns for Xiaomi's car strategy, including initial models and international expansion.
The successful tech brand expects to invest the equivalent of 10 billion euros in the electric vehicle division over 10 years, but hasn't shared many details beyond that.
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The Beijing factory shows more information:
it suggests that Xiaomi intends to become a mainstream (albeit initially small) electric vehicle maker that competes not only with Chinese rivals like Nio and Xpeng, but also with major foreign automakers like Tesla.
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