Beijing Automotive Group Co (BAIC Group) is reportedly in talks with Xiaomi to produce electric vehicles (EVs) under the Xiaomi brand, as reported by Bloomberg.
Given the rumored regulatory barriers that have hampered the phone maker’s automobile project, the alliance could prove vital if Xiaomi is serious about producing electric cars by 2024.
Possible structures for this purported alliance. The Beijing Hyundai No. 2 plant was opened by BAIC and Hyundai in 2002, and Xiaomi has expressed interest in purchasing a stake in the business. The factory needs more funding to begin producing EVs, but it can get by with a shoddy job for now because it has a Chinese manufacturing license.
If this electric vehicle idea goes forward, automobiles will be produced by BAIC’s EV division, BAIC BluePark New Energy Technology, and sold under the Xiaomi brand. Xiaomi plans to invest $10 billion over the next decade to begin manufacturing cars in mass quantities by 2024.
As of this writing, neither Xiaomi nor BAIC has responded to the report.