On November 27, Xiaomi Technology and Beijing Economic and Technological Development Zone Management Committee formally signed a 'cooperation agreement', announcing the settlement and initiation of Xiaomi’s intelligent car building project in the Beijing Economic Development Zone.
Xiaomi officially started its factory-construction process in Beijing Yizhuang
Xiaomi is said to project construction of 300,000 vehicles in two phases, with each phrase's production capacity being 150,000 vehicles, thus realizing massive production by 2024.
The site, near the home base of Xiaomi's IoT factory, has formed a welcoming ecosystem for emerging business, with four leading industries, including information technology, high-end and new energy intelligent vehicles, biotechnology and health, as well as robotics and intelligent manufacturing, making it the ideal launchpad for world-class new energy vehicles.
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