Xiaomi’s electric vehicle factory will produce 300,000 vehicles a year

With their focus on smartphones, big brands like Xiaomi now seem to be turning to other areas. Electric vehicles seem to be the chosen market and new offerings seem almost ready for sale.

If for the most part these are just rumors that are still far from confirmed, then this does not happen at Xiaomi. The brand has already confirmed its intention, and now much more is known about the future of the factory in which they will be produced.

Xiaomi plans for the future

Xiaomi is one of the latest companies to confirm their desire to enter the electric vehicle market. The Chinese giant already has in its plans much of what will soon become reality, and its ideas are soon beginning to take shape.

The new information brought new data and information about the plant where these electric vehicles will be produced and assembled. Plans indicate that it should go into production as early as 2024, albeit in stages.

The plant will produce 300 thousand cars a year.

Which the is revealedo showed that a new Xiaomi factory will be built and that it will be prepared in 2 phases. Production will begin within 2 years and is expected to reach a production level of 300,000 vehicles per year.

In addition to this new production unit, Xiaomi should place its entire management, research and sales structure in the same area. It should be based in Beijing, but there are plans to use its physical stores to support sales.

Perfect bet on new electric vehicles

It remains to be seen what the brand's strategy for future EVs will be, namely the initial models and its international expansion, if any. Xiaomi was planning to invest $ 10 billion in this area over the next 10 years.

After all the successes it has in the field of smartphones and even others, this will be an important change for Xiaomi. The EV market is expanding and the brand wants to play an important role here in this area.