AsianFin — Xiaomi Group is reportedly planning to expand the scale of its second electric vehicle (EV) production plant under construction in Beijing, according to a source familiar with the matter.
The move comes as the company's first EV model has seen strong sales, prompting billionaire co-founder Lei Jun to raise this year's delivery target to 350,000 units.
The smartphone giant, known for its consumer electronics, began constructing its second factory last year in the Yizhuang area of Beijing. Xiaomi acquired a 53-hectare plot for 842 million yuan ($116 million), with production set to begin mid-year. The source revealed that Xiaomi will incorporate an adjacent 52-hectare plot to expand the facility.
The decision to scale up follows the overwhelming market response to Xiaomi's debut EV, which has positioned the company as a serious contender in the competitive EV sector. The expansion underscores Xiaomi's commitment to capturing a significant share of the rapidly growing EV market in China and beyond.
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