financetom
Technology
financetom
/
Technology
/
Xiaomi's automobile plant expansion to be completed in mid-2025, report says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Xiaomi's automobile plant expansion to be completed in mid-2025, report says
Oct 23, 2024 12:51 AM

BEIJING (Reuters) - Chinese smartphone maker Xiaomi Corp ( XIACF ) is expected to complete the construction of an expansion of its electric vehicle factory in mid-2025, according to government-backed Chinese media on Wednesday

The second phase of the Xiaomi Intelligent Manufacturing Industrial Base is scheduled to be completed on June 15, according to a report by the National Business Daily citing a person familiar with the project.

The report added that workers were working overtime to complete the project, which is adjacent to the first-phase factory located in Beijing's Yizhuang New Town, an economic development area in which many high-tech firms have set up shop.

Xiaomi ( XIACF ) did not immediately respond to a request for comment on the report.

The company first announced its entry into the EV business in 2021 as a diversification from its core smartphone operations.

Xiaomi ( XIACF ), which launched its first EV the SU7 sedan last December, has quickly emerged as one of the major EV brands in China. It had sold a total of 70,000 units of SU7 cars by end of September since delivery started in March.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
The Analyst Landscape: 7 Takes On Clear Secure
The Analyst Landscape: 7 Takes On Clear Secure
Mar 22, 2024
Analysts' ratings for Clear Secure ( YOU ) over the last quarter vary from bullish to bearish, as provided by 7 analysts. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent...
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Analysis-Apple antitrust suit mirrors strategy that beat Microsoft, but tech industry has changed
Mar 22, 2024
(Reuters) - The U.S. government's antitrust lawsuit against Apple ( AAPL ) draws on the watershed 1998 case that broke Microsoft's ( MSFT ) stranglehold on desktop software, but that may prove to be an imperfect blueprint for addressing smartphone competition. The market for the iPhone today looks very different from the near-monopoly enjoyed by Microsoft's ( MSFT ) Windows...
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
AIOZ Network Partners With Alibaba Cloud to Boost AI, Storage and Streaming Services
Mar 22, 2024
The two companies will establish a DePIN alliance in south-east Asia.AIOZ's native token is currently trading flat after the announcement, it is up by more than 200% in 30 days.AIOZ Network will use Alibaba Cloud to improve Web 3, AI, storage and streaming services.Decentralized infrastructure network (DePIN) AIOZ Network has become the leading blockchain partner in Alibaba Cloud’s Innovation Accelerator...
Deep Dive Into Confluent Stock: Analyst Perspectives (17 Ratings)
Deep Dive Into Confluent Stock: Analyst Perspectives (17 Ratings)
Mar 22, 2024
In the preceding three months, 17 analysts have released ratings for Confluent , presenting a wide array of perspectives from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 7 5 5...
Copyright 2023-2026 - www.financetom.com All Rights Reserved