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Xiaomi to arrange car plant in Beijing

Beijing: Chinese language electronics producer Xiaomi is planning to construct an car manufacturing plant in Beijing with an annual capability of three lakh automobiles.

The announcement was made at a contract signing ceremony on Saturday between the corporate and the administration committee of the Beijing Financial-Technological Growth Space.

In response to the settlement, Xiaomi will arrange enterprise headquarters, gross sales headquarters, and R&D headquarters for the car manufacturing base within the Growth Space, reviews Xinhua information company.

The car manufacturing facility will likely be constructed in two phases, with every having an annual manufacturing capability of 150,000 automobiles. The primary automobile is anticipated to roll off the manufacturing line in 2024.

The corporate mentioned that it now has 300 workers and the enterprise is led by the group’s founder and CEO Lei Jun.

In March, the Beijing-headquartered agency introduced plans to launch an electrical automobile enterprise and make investments $10 billion over the following decade.

Xiaomi mentioned its electrical car crew has “performed an enormous quantity of consumer analysis” within the final 5 months. It has additionally visited business companions whereas “urgent forward with the EV product definition and crew formation,” the report mentioned.

The enterprise has but to unveil a automobile, it added.

Not too long ago, Xiaomi introduced it had acquired autonomous driving agency Deepmotion for round $77.37 million to “improve the technological competitiveness” of its electrical car enterprise.

Xiaomi, identified for its smartphones and different internet-connected {hardware}, is leaping into an extremely crowded house in China amongst start-ups like Nio and Xpeng in addition to established gamers together with Tesla and Warren Buffett-backed BYD, a Chinese language automaker, as per the report.

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Written by VK Team

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