Transportation
Xiaomi Plans to Expand Beijing EV Factory to Meet Surging Demand
This article is for subscribers only.
Xiaomi Corp. is expanding the size of a planned second electric car factory in Beijing, according to a person familiar with the matter, after the success of its first model prompted billionaire co-founder Lei Jun to raise this year’s sales target to 350,000 vehicles.
The company, better known for its smartphones, started construction of a second factory last year on a 53 hectare (131 acre) parcel of land in the capital’s Yizhuang district that it bought for 842 million yuan ($116 million). Production at that facility is set to start mid-year.