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Xiaomi to produce 300,000 EVs a year in new Beijing factory starting in 2024 TechSpot

November 30, 2021
Source: techspot.com techspot.com
News Snapshot:
In context: Following Tesla's success in the EV segment, many car manufacturers are developing their own electric vehicles to get a share of this multi-million dollar market. However, they aren't alone, as consumer electronics companies like Xiaomi are also trying to grab a piece of the pie, investing about $1.5 billion over 10 years in a subsidiary dedicated to the production of EVs. The investment was confirmed in March. The Chinese company has since made some progress towards its objective, namely acquiring autonomous driving startup DeepMotion for around $77.3 million. Now, it seems the Chinese giant is focusing on buying...
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Tags: Apple | Beijing | car | China | Chinese | consumer | consumer electronics | development | Dollar | Economy | electric vehicle | EV | factory | Gadgets & Electronics | Giant | government | Grab | headquarters | investment | IT | manufacturing | phone | plant | Tesla | Xiaomi

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