Xiaomi has invested an ample amount of money to enter the automobile business with their Electric cars. The brand will release the first EV under their automobile business division soon. The first vehicle from the brand was expected to debut in the year 2024. A new report hovering online now suggests that the brand will partner with another car manufacturer to speed up its production.
Xiaomi is to partner with a big Chinese car manufacturer for its upcoming EV
it has been reported that Xiaomi is constantly in touch with major car manufacturers in China in order to speed up its production. The brand has now reportedly partnered with the Beijing Automotive Group Co. to produce their electric cars.
According to a Bloomberg report, Xiaomi is considering purchasing a stake in Beijing Hyundai No. 2 facility in order to finish development within the next two years. According to the report, this factory has full authorization to produce automobiles in China. It further claimed that Xiaomi is considering a production partnership, citing sources with knowledge of the deal. Chinese smartphone manufacturers are currently having trouble getting the necessary licences to begin producing vehicles.
According to the report, Xiaomi will collaborate with Beijing Automotive’s BAIC BluePark New Energy Technology EV brand. The capacity of Plant No. 2 to produce new electric vehicles is currently insufficient. But according to the source, the EV company BluePark has a production facility that may be used to create Xiaomi-BAIC vehicles.
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They are still in talks and no final conclusion has been drawn yet. We expect the brand to release an official statement as soon as the deal has been finalized. Lei Jun, a co-founder of the business, had pledged to put $10 billion toward the creation of Xiaomi’s electric vehicles. Earlier this year, Xiaomi began construction on its first plant for electric vehicles after announcing its interest in the industry last year. A 3 lakh unit capacity is anticipated for the factory in question.
