The first car is expected to roll off the assembly line in 2024.
The Chinese electronics manufacturer Xiaomi wants to build a car plant in Beijing with an annual capacity of 300,000 units, reports Radio China.
The news was announced at a contract-signing ceremony between the company and the Beijing Zone Economic and Technological Development Steering Committee on Saturday.
As part of the agreement, Xiaomi will set up a business and commercial center, as well as a research and development center for automotive production in the region. The car plant will be built in two phases.
The annual production capacity for each phase is 150,000 vehicles. The first car is expected to roll off the assembly line in 2024.