Xiaomi reportedly plans to expand second electric vehicle factory to meet growing demand
Xiaomi Group will expand the scale of its second electric vehicle production plant under construction in Beijing, according to media reports, citing a person familiar with the matter. The hot sales of Xiaomi's first car prompted billionaire co-founder Lei Jun to raise the delivery target to 350,000 vehicles this year. The company, which is famous for its smartphones, began building its second factory in the Yizhuang area of the capital last year. Xiaomi purchased the 53-hectare land for 842 million yuan (116 million U.S. dollars), and the factory is scheduled to start production in the middle of the year. The aforementioned person familiar with the matter said that Xiaomi will incorporate an adjacent plot of about 52 hectares for expansion.