- Phase 2 of Xiaomi EV’s factory is expected to be completed next month, as it approaches the launch of its second model, the YU7.
- The new factory broke ground last year, and construction of the production halls and office buildings appears to be complete.
Phase 2 of Xiaomi’s (HKG: 1810, OTCMKTS: XIACY) EV factory is expected to be completed next month, with the rollout of its second model coming soon.
The second phase of the plant is currently being finalized and is expected to be completed by mid-June, according to a report in local media outlet Time Weekly today that cites construction workers at the site.
The new plant broke ground last year, and construction of the production halls and office building appears to be complete, according to Time Weekly, whose reporter visited the project on site.
At the end of November 2021, Xiaomi signed a deal with authorities in Yizhuang, Beijing, to build a 300,000-unit-a-year car factory there.
The plant would be built in two phases, with the first and second phases each having an annual capacity of 150,000 vehicles, according to an announcement at the time.
The first phase of the plant was completed in 2023 and deliveries the Xiaomi SU7 electric sedan, Xiaomi’s first model, began in April 2024.
The Xiaomi EV plant began double-shift production in June 2024, Xiaomi said in its second-quarter 2024 earnings report last year.
Expanding the factory and boosting production capacity are top priorities for Xiaomi EV in order to prepare for more new models, such as the Xiaomi YU7, the Time Weekly report noted.
The YU7 will be unveiled on May 22, Xiaomi EV said yesterday.
The arrival of the Xiaomi YU7 will exacerbate the pressure on Xiaomi EV’s factory capacity, the report noted.
Xiaomi founder, chairman and CEO Lei Jun said in March that Xiaomi EV had raised its target for vehicle deliveries to 350,000 units for the full year of 2025, up from 300,000 units previously.
That target exceeds the combined capacity of Xiaomi EV’s phase 1 and phase 2 plants, with a phase 3 plant already on the agenda, according to Time Weekly.
Construction has already begun on the phase 3 plant, which is located just east of the phase 2 plant, the report said, citing a construction worker.
In March, land authorities in Beijing unveiled a planning proposal for a plot of land of about 52 hectares in size, adjacent to Xiaomi’s EV factory, and there was speculation at the time that the site was expected to be used for the third phase of the Xiaomi EV factory.
On March 19, Bloomberg said in a report that Xiaomi was expanding its planned second EV factory in Beijing.
The latest expansion would see the factory occupy an adjacent plot of land of about 52 hectares, the report said, citing a person familiar with the matter.
This is the seventh consecutive month that Xiaomi EV has seen monthly deliveries exceed 20,000 units.
