Smartphone-making technology giant Xiaomi is reportedly in talks with a major automobile manufacturer in China to accelerate the production of its electric car. According to a recent media report, Xiaomi is partnering with Beijing Automotive Group Co. for the production of electric vehicles. (Beijing Automotive Group Co.) The company had earlier promised to make its car in the year 2024.
According to a Bloomberg report, Xiaomi is also planning to buy a stake in the Beijing Hyundai No. 2 plant to complete the work over the next two years. The report says that this factory has a full license to make cars in China. Citing people with knowledge of the deal, it claimed that Xiaomi is eyeing a production tie-up. The Chinese smartphone maker is currently facing delays in obtaining the license to make cars.
The report suggests that Xiaomi will partner with Beijing Automotive’s EV brand BAIC BluePark New Energy Technology. Plant No. 2 is currently not fully equipped to manufacture new electric cars. The report said EV brand Bluepark has a production capacity that could be used to make Xiaomi-BAIC vehicles.
However, negotiations are still ongoing, so a final deal may still be a long way off. Xiaomi has not made any official statement about the partnership. Company co-founder Lei Jun promised to invest $10 billion in the production of Xiaomi electric cars. Xiaomi announced its interest in making electric vehicles last year, and the company began construction of its first EV factory earlier this year. The capacity of the plant under consideration is expected to be 3 lakh units.
Xiaomi isn’t the main organization in the innovation area that is getting ready to enter the EV area. American monster Apple is additionally intending to present its most memorable electric vehicle as soon as 2025. Be that as it may, the organization is dealing with numerous issues in fostering the Titan project.