Xiaomi to purchase Borgward's factory in Beijing, as per report's assertions
**Xiaomi Expands Electric Vehicle Production in Beijing**
Chinese tech giant Xiaomi is set to increase its electric vehicle (EV) production capacity in Beijing, following the acquisition of a significant plot of land in the Yizhuang area. The new factory, spanning approximately 485,100 square meters, is part of Xiaomi's ongoing efforts to expand its EV manufacturing footprint in the city.
Reports suggest that Xiaomi is actively communicating with the investment promotion department of Wuhan to establish a factory in the city, potentially marking a dual factory model for the company. However, the specifics of such a strategy, including any plans for a Wuhan facility, remain unconfirmed at this time.
In Beijing, Xiaomi is reportedly pursuing the acquisition of Borgward Motors' plant, though direct confirmation of this acquisition is yet to be made. The Borgward plant, known for its smart manufacturing capabilities, has a production capacity of 180,000 units and is capable of producing both internal combustion engine (ICE) and electric vehicles.
The plant, which is not far from Xpeng's factory, was relying on the German "Industry 4.0" intelligent manufacturing system. If Xiaomi were to acquire this facility, it would benefit from the plant's advanced capabilities in stamping, bodywork, painting, final assembly, inspection, logistics, and IT.
Xiaomi's CEO, Lei Jun, was present at a recent meeting with state-owned FAW, one of the oldest Chinese automakers, as the company continues to forge partnerships within the industry. The tech company aims to launch its first vehicles by 2024 and is expected to sell 900,000 cars in the upcoming years.
Recent job postings on a popular recruitment website indicate that Xiaomi's EV division is recruiting operators for its Wuhan plant, hinting at potential plans for this location. However, the specifics of these plans, including any confirmation of a dual factory model, remain to be seen.
As Xiaomi continues to make strides in the EV market, it is worth keeping an eye on official press releases and trusted automotive industry news sources for the latest updates on the company's corporate developments.
[1] Xiaomi's third EV plant in Beijing: https://www.reuters.com/business/autos-transportation/xiaomi-plans-third-electric-car-factory-beijing-sources-2021-07-08/
- Lei Jun, the CEO of Xiaomi, is exploring investment opportunities in Wuhan's industry sector, hinting at potential investments in the technology and business sectors to establish a factory there.
- As Xiaomi plans to launch its first vehicles by 2024, the tech giant is looking beyond its current operations and seeking to diversify its finance portfolio by investing in the sports industry, possibly using advanced technology to revolutionize sports equipment manufacturing.
- To expand its global reach and further diversify its business portfolio, Xiaomi is also considering venturing into the international finance market, aiming to secure long-term partnerships with key players in the industry that can provide the necessary funding for its rapid expansion.
