Xiaomi purchased a $116 million site for electric car production!

Ana sayfa / Cars

Xiaomi, which made a rapid entry into the electric car market, decided to expand its business after its success. Today, the company, which purchased a land worth 116 million dollars in China, will continue its electric car production in the facility it will establish there.

Xiaomi will now manufacture on the 131-acre land it purchased in Beijing!

While electric car sales are constantly decreasing in Europe, the situation is the opposite in China. Xiaomi, which wants to expand its business in China, which is currently the region where electric cars are most popular, has purchased a new field. The company, which has made a name for itself with its new investment of 116 million dollars, will now manufacture electric cars here.

According to the files published by the Beijing Municipal Planning and Natural Resources Commission, a company called Xiaomi Jingxi Technology Ltd. purchased 131 acres of land in Beijing. Xiaomi, which paid 116 million dollars for this field, announced that the area will be used for the “development of high-end electric car and smart vehicle production”.

The company, which achieved success with the SU7 model it introduced in March, then announced that it would invest $10 billion in order to gain power in the EV market. Apparently, the first step of this investment is this new facility to be established in Beijing. Xiaomi, which announced that it delivered more than 30 thousand vehicles at the beginning of this month, thinks that it will achieve its goal of selling 100 thousand electric cars in November 2024. In this case, the company, which cannot even keep up with the orders, sees that expanding the facility is the most beneficial solution.

Xiaomi, which plans to produce its new model with a Tesla Model Y-like design at the beginning of 2025, unlike the model currently on the market, will probably produce its new electric car at the new site it purchased in Beijing. In this way, the Chinese technology giant, which plans to increase its annual production capacity to 150 thousand in 2025, will get a large share of the increasing car sales in China.