Eight months after announcing it would invest $10 billion into its electric car division over ten years, smartphone giant Xiaomi has said it would build a plant capable of producing 300,000 vehicles annually in Beijing. The plant, which will be built in two phases, will be located in the Beijing Economic and Technological Development Zone, and is planned to reach mass production in 2024. Xiaomi is only the latest smartphone maker to foray into electric vehicles: Apple has plans for a car, planning a self-driving one as early as 2025. The company, China’s largest smartphone maker and among the world’s…