Xiaomi May Build Electric Cars With BAIC In Beijing
Xiaomi appears in talks with BAIC to collaborate on producing electric vehicles and is exploring options to take a stake in a Hyundai plant, according to media reports.
Xiaomi released plans to build electric vehicles at a new plant in Beijing starting in 2024 last November.
Collaboration is encouraged, and the deal could see vehicles built by Beijing Automotive's EV brand, BAIC BluePark New Energy Technology, being co-branded with Xiaomi, according to the sources.
Xiaomi launched its subsidiary Xiaomi Automobile Technology with a registered capital of one billion yuan in 2021.
At the time, Xiaomi said they would invest ten billion US dollars in the e-car business over the next ten years under CEO Lei Jun, the founder and overall CEO of Xiaomi.
In the smartphone sector, Xiaomi already works closely with iPhone producer Foxconn, which introduced an electric car platform called MIH and set up an eMobility contract manufacturer with Geely.
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