Xiaomi will establish its own automobile factory!

According to Chinese media Xiaomi, has already completed the engineering phase of its first electric car. The company, which does not want to be content with just proving itself in the mobile sector, started to expand into different areas. The Chinese tech giant’s vehicle software integration is progressing rapidly, and its project is nearing completion by mid-October. The next step for the company is to start planning for production.

A source named Sina Tech has announced that Xiaomi will not buy the existing automotive factory from BAIC Group as originally planned. Instead, the company decided to set up its own automobile factory.

Xiaomi will establish its own automobile factory!

Xiaomi is still new in the auto industry. The company announced its plans to make electric cars in March 2021. With ambitious plans to start production in 2024, there is only one year left to build the production facility. The company has committed $10 billion to this project over the next 10 years, so it has the budget to build its own factory. Last November, it signed a contract to build the automotive business center and R&D center in Yizhuang with its subsidiary factory.

Once the plant reaches full speed, its planned capacity will be 300,000 vehicles per year. While the factory will be built in two phases, the first phase will produce 150,000 vehicles per year and the second phase will follow later. Xiaomi wants its first electric car to reach customers in 2024.

Source: Teknolojioku Rss by www.teknolojioku.com.

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