In March of this year, Xiaomi officially announced that it was entering the car market. In September, she registered the brand Xiaomi Automobile Co., Ltd, and two months later established another automobile company. And now it became known that the Chinese company will have its own plant for the production of electric vehicles.

The plant will be built in Beijing, and its capacity will be enough to produce 300 thousand cars a year. According to government-backed economic development agency Beijing E-Town, the plant will be built in two phases and could start full-scale mass production in 2024. It is in this year that the first Xiaomi models should appear.

In addition, Xiaomi will also build its automotive division headquarters, sales and research offices in the Beijing Economic and Technological Development Zone.

As a reminder, back in March, the company said that it was planning to invest $ 10 billion in this industry over the next 10 years.