Η Xiaomi is set to partner with a major Chinese carmaker to ramp up production of its first electric car
Η Xiaomi has invested a lot of money to enter the automotive industry with its electric cars, and the new company it founded will soon release the first EV vehicle.
Xiaomi's first electric car is expected to debut in 2024, but now new information circulating online suggests that the company will be teaming up with a major Chinese automaker to speed up its production.
It has been reported that Xiaomi is constantly in contact with major car manufacturers in China in order to speed up the production of its electric car, and all indications are that it is going to work with Beijing Automotive Group Co.
According to his report Bloomberg, Xiaomi is considering buying a stake in its facilities of Hyundai's No. 2 factory in Beijing, in order to complete the development of its first vehicle within the next two years. According to reports, this factory is fully authorized to produce cars in China, so this will help Xiaomi overcome the difficulties it faces in producing its own vehicles.
As is well known, Xiaomi, as well as other Chinese smartphone manufacturers, are currently having trouble getting the necessary permits they need from the relevant ministry in China in time to start production of their vehicles, but this problem – at least for Xiaomi – expected to be beaten relatively easily.
According to the sources he cites Bloomberg , Xiaomi will cooperate the Beijing Automotive BAIC for the production of its cars in its factory BluePark New Energy Technology. The capacity of this No. 2 plant to produce new electric vehicles is currently considered insufficient, however, according to the same sources, the company BluePark has an additional production unit that can be used to craft the Xiaomi-BAIC vehicles.
The deal has not yet been finalized and the two companies are still in negotiations with no final conclusion yet. We expect Xiaomi to issue an official statement once the deal is finalized.
Ο Lei Jun, co-founder of Xiaomi, had committed to make available 10 billions of dollars for the manufacture of electric vehicles, and earlier this year, Xiaomi began construction of its first factory.
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