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
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