Xiaomi Automotive recently signed a contract with a Beijing Economic and Technological Development Zone committee to establish all of its automotive business in the suburb of Yizhuang. With the aim of putting its first electric vehicle on the road in 2024, Xiaomi will establish its headquarters, R&D and manufacturing at the site which will be built in two phases.
Xiaomi Automotive is a relatively new company that was formed from the largest consumer electronics company, Xiaomi Communications Co. – the third largest producer of smartphones in the world.
Last March, we announced that Xiaomi Communications Co. was apparently looking to enter the growing electric vehicle market with its own brand of electric cars. At the time, there were rumors that the Chinese company Great Wall Motors would offer advice for the engineering process to speed up Xiaomi’s EV project.
Last September, the mega-manufacturer confirmed its new entry into electric vehicles by officially establishing industrial and commercial registration in China under the name Xiaomi Automotive Co. Ltd. With a team of 300 employees in place at the time, Xiaomi Group Founder, Chairman and CEO Lei Jun announced that Xiaomi Automobile had successfully registered with a capital of 10 billion yuan (~ 1.55 billion yuan). dollars).
At the time of its registration announcement, Xiaomi is reportedly still looking for an electric vehicle production partner. The research included 85 industry tours, in addition to in-depth meetings with over 200 automotive industry veterans from companies such as BYD, Great Wall Motor, Wuling Motors and SAIC.
Now it looks like Xiaomi will tackle the production of electric vehicles on its own, with the help of the Beijing Economic and Technological Development Zone.
The new Xiaomi EV factory will be built in two phases
As reported by The South China Morning Post, Xiaomi’s contract for new installations will be built in Yizhuang, a suburb of the Chinese capital in the Beijing Economic and Technological Development Zone.
The same economic development zone is home to the facilities of several other big tech companies like Baidu and the country’s first chip foundry, Semiconductor International Manufacturing Corporation (SMIC).
The Chinese government announced the signing of the contract through its WeChat account and praised Xiaomi for embodying “outstanding Chinese technology” and wise manufacturing practices.
As part of the deal, Xiaomi will erect its facilities in two phases, each providing production of 150,000 EVs per year. In addition to production, Beijing’s footprint will also include Xiaomi Automotive’s head office, sales center and R&D facilities.
Economic zone officials says he will provide full support for Xiaomi Automotive, and is already pushing for an early start in construction to start production of electric vehicles earlier.
Xiaomi executives said the company already has 500 employees in place for its first electric vehicle project and remains on track to reach mass production at the newly announced facility sometime in 2024.
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