The first car is expected to leave the assembly line in 2024. Chinese electronics maker Xiaomi plans to build a car plant in Beijing with an annual capacity of 300,000 units, Radio China reports. The news was announced at a contract signing ceremony Saturday between the company and the Beijing Zone Economic and Technological Development Steering Committee. Under the agreement, Xiaomi will set up a business and commercial headquarters, as well as a research and development center for the area’s automotive base. The car plant will be built in two phases. For each phase, the annual production capacity will be…