Xiaomi to open car plant in Beijing with annual output of 300,000 vehicles

The Xiaomi logo is seen at a Xiaomi shop in Shanghai, China, May 12. Reuters

Chinese smartphone giant Xiaomi will build a plant that can produce 300,000 vehicles annually in Beijing for its electric vehicle unit, authorities in the capital said on Saturday.

The plant will be constructed in two phases and Xiaomi will also built its auto unit's headquarters, sales, and research offices in the Beijing Economic and Technological Development Zone, the government-backed economic development agency Beijing E-Town said on its official WeChat account.

Beijing E-Town said it anticipated the plant reaching mass production in 2024, a goal announced by Xiaomi's Chief Executive Lei Jun in October.

In March, Xiaomi said it would commit to investing $10 billion in a new electric car division over 10 years. The company completed the business registration of its EV unit in late August.

The company has been opening thousands of stores to spur domestic sales growth for its smartphone business but eventually intends to use these shops as a channel for its plans to sell electric vehicles. (Reuters)

Category and Tags
More stories by
Johnson Will No Longer Make Talcum Powder

Johnson & Johnson (J&J) will stop making 'talcum baby powder' worldwide from next year. More than two years after it stopped marketing its o...

Popular Korean band BTS will perform in Bangladesh

This time, the popular Korean band BTS will perform in Dhaka, reported Ittefaq. BTS is the global sensation that the world's most expensive brands are chasing for marketing purposes. This Korean band has the most expensive concert. When a single is r

People infected with covid and monkeypox have been identified in the United States

Recently, a person in the United States was infected with both Covid-19 and monkeypox, which is a very rare occurrence. The man is a resident of the Bay Area, California. The man, wh...

Muslims in Bangladesh have bought and sacrificed around 1 crore cattle

Reportedly, Muslims in Bangladesh have bought and sacrificed around 1 crore cattle (cows and goats/sheep) this past Eid-Ul-Azha. The rural economy got a huge boost of around BDT 38,808 crore. In Bangladesh, busi...

Uddog o Uddokta Japan’s Annual Conference and the Celebration of 50 Years of Japan-Bangladesh Relationship Held in Online from Japan

With the aim of developing Bangladeshi entrepreneurship in Japan a day long international conference took place in online on 2nd July 2022. It was the Annual Conference of Uddog o Uddokta Japan Association for 2022. This year the theme was “50 Year

Follow Business Habit on Facebook, Twitter