On November 27th, Beijing Yizhuang official WeChat announced that the signing ceremony between the Beijing Economic and Technological Development Zone Management Committee and Xiaomi Technology was held. With the signing of the “Cooperation Agreement” between the two parties, it was officially announced that Xiaomi Auto would settle in Beijing Economic Development Zone. Xiaomi Group Chairman Lei Jun and President Wang Xiang attended the signing ceremony. Previously, there had been many cities competing for the settlement of Xiaomi Auto project, but in the end Xiaomi chose Beijing.
It is reported that the Xiaomi Auto project will build the Xiaomi Automobile Headquarters Base, Sales Headquarters, and R&D Headquarters. It will build a complete vehicle plant with an annual output of 300,000 vehicles in two phases. The car will roll off the assembly line and achieve mass production.
Earlier, at the investor conference held by Xiaomi, Lei Jun stated at the meeting that Xiaomi Auto is expected to be mass-produced in the first half of 2024, and that the progress of Xiaomi’s vehicle manufacturing and team’s work has far exceeded expectations. Lei Jun said at the investor conference that electric vehicles have now shifted from the machinery industry to the information industry, and their peers are doing it. Xiaomi will be eliminated if it doesn’t make cars. Xiaomi currently has a smart ecosystem such as smart phones, smart homes, and smart offices. Integrating with the car will be extremely expandable.