In 2024, Xiaomi intends to add a string to its bow and annually produce some 300,000 electric vehicles in a new factory which will be located in Beijing.
To achieve this, the Chinese brand will invest $ 10 billion and has just created a subsidiary called Xiaomi EV, whose offices will also be located in the Chinese capital.
If the company is successful as it has done in recent years with its smartphones, it is a safe bet that Xiaomi will become a major car manufacturer, which could compete with Tesla.
In any case, the brand is giving itself the means since it also recently became the owner of Deepmotion, a startup specializing in the development of technology for autonomous vehicles.
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