The landing of Xiaomi in the automotive industry it is a reality, and the Chinese company has very important aspirations for when its first electric cars reach the market. According Reuters, the company will build a plant in Beijing that will be capable of producing 300 thousand vehicles per year.
The news was announced by authorities in China’s capital over the weekend. Xiaomi’s intention is to build its plant in two phases, but the infrastructure will not be limited to that destined to produce the electric cars themselves. The headquarters of Xiaomi Automobile will be installed next to the sales and research offices in the area known as Beijing Economic and Technological Development Zone.
Details regarding Xiaomi’s project to enter the electric mobility market remain scant. Anyway, it has been mentioned that this new factory would reach mass production in 2024. This confirms what was said long ago by Lei Jun, the CEO of the company, when addressing the production times of his first vehicle.
Another interesting fact that the aforementioned report mentions is that Xiaomi wants to take advantage of its physical stores in China to sell the electric cars it produces. Although these spaces were conceived to stimulate the sale of the rest of their products nationwide, starting with smartphones, they would also add the automotive variant.
Xiaomi’s entry into the world of electric cars continues to take shape
Beyond building a factory for electric cars in Beijing, Xiaomi’s plans are really ambitious. The firm has promised to allocate $ 10 billion over the next ten years; and Xiaomi Automobile already has 1.550 million dollars of initial investment.
It is logical that Xiaomi’s strategy to enter the electric automotive market is aggressive. At the end of the day, the company will have to compete against brands already installed among the Chinese public. like Tesla and BYD, among other.
It is clear that the firm has taken its commitment to access a sector of growing demand such as electric mobility very seriously. Let us also bear in mind that rumors suggest that, in the field of electric cars, Xiaomi would receive the support of a well-known firm such as Great Wall Motor Co., as an engineering consultant.