Xiaomi in Talks With BAIC to Reach Goal of Making Cars
- Smartphone giant may produce co-branded EVs built by BAIC
- Tie-up could help Xiaomi keep promise to make cars by 2024
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Xiaomi Corp. is in talks with Beijing Automotive Group Co. to collaborate on producing electric vehicles, according to people familiar with the matter, as the technology company races to fulfill a promise to make its own cars by 2024.
The two giants are exploring different options including Xiaomi buying a stake in Beijing Hyundai No. 2 plant, which is fully licensed to make cars in China, the people said, asking not to be named discussing a private matter. Xiaomi is eyeing a production tie-up as it faces delays in acquiring a license to make cars on its own, according to the people.