Xiaomi's automobile plant expansion to be completed in mid-2025, report says

BEIJING (Reuters) - Chinese smartphone maker Xiaomi (OTC:XIACF ) Corp is expected to complete the construction of an expansion of its electric vehicle factory in mid-2025, according to government-backed Chinese media on Wednesday

The second phase of the Xiaomi Intelligent Manufacturing Industrial Base is scheduled to be completed on June 15, according to a report by the National Business Daily citing a person familiar with the project.

The report added that workers were working overtime to complete the project, which is adjacent to the first-phase factory located in Beijing's Yizhuang New Town, an economic development area in which many high-tech firms have set up shop.

Xiaomi did not immediately respond to a request for comment on the report.



The company first announced its entry into the EV business in 2021 as a diversification from its core smartphone operations.

Xiaomi, which launched its first EV the SU7 sedan last December, has quickly emerged as one of the major EV brands in China. It had sold a total of 70,000 units of SU7 cars by end of September since delivery started in March.

Source: Investing.com