Xiaomi's Phase II factory for automobiles is here

Author | Wang Xiaojuan Editor | Zhou Zhiyu Unwilling to be constrained by production capacity, Lei Jun is about to welcome the second phase of Xiaomi's car factory. On July 25th, the Beijing Municipal Commission of Planning and Natural Resources announced that the industrial project on Plot YZ00-0606 in Yizhuang New Town, Beijing, was sold for 840 million yuan. The winning bidder was Xiaomi Jingxi Technology Co., Ltd., a wholly-owned subsidiary of Xiaomi Communications Co., Ltd. This plot is adjacent to the current Xiaomi car factory in Yizhuang. According to the disclosed land use requirements, the industrial land is planned to be used for the construction of a new energy intelligent connected vehicle whole vehicle and parts manufacturing project. According to previous plans, Xiaomi's car factory in Yizhuang, Beijing, will be built in two phases. The second phase is scheduled to start construction in 2024 and be completed in 2025. Xiaomi's car production capacity urgently needs to be increased. The current annual planned production capacity of Xiaomi's car factory Phase 1 is 150,000 vehicles, but the delivery time for Xiaomi SU7 is still long. According to the Xiaomi car APP, the delivery time for the three versions of Xiaomi SU7 is 19-30 weeks. At the time of listing, the delivery time for several versions of Xiaomi SU7 was over 25 weeks, which discouraged many consumers due to the wait of about half a year. Even car rental companies and scalpers made a lot of money from the time difference. In order to speed up delivery, Xiaomi's car factory started a "double shift mode" in June and successfully delivered over ten thousand vehicles that month. In a recent speech, Xiaomi's founder Lei Jun stated that Xiaomi's car is expected to achieve the annual delivery target of 100,000 vehicles ahead of schedule in November. Based on the delivery data of the past three months and the target for this month, by the end of July, Xiaomi's car cumulative delivery volume will reach 40,000 vehicles. In other words, in the next four months, an average of 15,000 vehicles must be delivered each month to achieve the above target. Also, to speed up delivery, Xiaomi's car factory recently upgraded and renovated its production line. However, the second phase of the factory does not help with this year's production capacity, as the new capacity is reserved for new vehicles. During the first quarter earnings call, Xiaomi Group's partner and president Lu Weibing revealed that new vehicles are currently under development, and the production capacity of the first phase factory is already saturated, unable to accommodate new models. Since the beginning of this year, information about new Xiaomi car models has been gradually revealed, with the second model being reported as a pure electric SUV model. Insiders say that this car will be launched in 2025 and urgently needs the completion of Xiaomi's second phase. A few days ago, Xiaomi officially obtained the independent car-making qualification, filling a crucial gap in car manufacturing. Although entering the game late, Xiaomi has achieved results that took many years for other new forces to achieve. Xiaomi's car also needs to accelerate to be able to aim for the top five global car companies after entering the competition