Latest news with #LeiJun
Time of India
15 hours ago
- Automotive
- Time of India
Xiaomi unit wins land tender in Beijing for EV manufacturing
A Xiaomi unit has won a tender to buy a plot of land in Beijing close to its existing car factory for 635 million yuan ($88 million), which it plans to use for a smart connected car and components project, a city regulator said on Thursday. The win for a 50-year lease to the 485,134 square metre-large plot of land was announced by Beijing's municipal planning and natural resources commission. The land plot is close to the second phase of Xiaomi's EV factory. Xiaomi Jingxi Technology, winner of the tender on Thursday, secured the second phase that covers an area of 531,130 square metres for 842 million yuan in July 2024. The project reached its final stage in April. The tender win would make Xiaomi one of the few automakers in China approved to expand capacity while the majority of the sector is grappling with overcapacity. Xiaomi said its new YU7 sports utility vehicle is getting more attention than the SU7 sedan and on its app, buyers have to wait up to 51 weeks to pick their Xiaomi cars as the company ramps up output. Xiaomi, the world's third-largest smartphone maker, launched the SU7 sedan last year and has outsold Tesla 's Model 3 on a monthly basis since December. The SU7's success is seen expediting the company's EV bid despite intense competition in the world's largest auto market. Xiaomi raised its target for EV deliveries this year to 350,000 from 300,000 earlier this year. The company had planned an annual output of 300,000 vehicles in its EV factory to be built in two phases. It will take orders for the YU7 at the end of June, CEO Lei Jun said on Wednesday. The YU7's release was earlier set for July.
Time of India
a day ago
- Automotive
- Time of India
Xiaomi unit wins land tender in Beijing for EV manufacturing
A Xiaomi unit has won a tender to buy a plot of land in Beijing close to its existing car factory for 635 million yuan ($88 million), which it plans to use for a smart connected car and components project, a city regulator said on Thursday. The win for a 50-year lease to the 485,134 square metre-large plot of land was announced by Beijing's municipal planning and natural resources commission. The land plot is close to the second phase of Xiaomi's EV factory. Xiaomi Jingxi Technology, winner of the tender on Thursday, secured the second phase that covers an area of 531,130 square metres for 842 million yuan in July 2024. The project reached its final stage in April. The tender win would make Xiaomi one of the few automakers in China approved to expand capacity while the majority of the sector is grappling with overcapacity. Xiaomi said its new YU7 sports utility vehicle is getting more attention than the SU7 sedan and on its app, buyers have to wait up to 51 weeks to pick their Xiaomi cars as the company ramps up output. Xiaomi, the world's third-largest smartphone maker, launched the SU7 sedan last year and has outsold Tesla 's Model 3 on a monthly basis since December. The SU7's success is seen expediting the company's EV bid despite intense competition in the world's largest auto market. Xiaomi raised its target for EV deliveries this year to 350,000 from 300,000 earlier this year. The company had planned an annual output of 300,000 vehicles in its EV factory to be built in two phases. It will take orders for the YU7 at the end of June, CEO Lei Jun said on Wednesday. The YU7's release was earlier set for July. ($1 = 7.1869 Chinese yuan renminbi)
Yahoo
3 days ago
- Automotive
- Yahoo
China's Xiaomi to release YU7 electric SUV at end of June
SHANGHAI (Reuters) -Chinese technology company Xiaomi plans to start taking orders for its new YU7 electric sports utility vehicle at the end of June, its CEO Lei Jun said on Wednesday on his Weibo account. The company earlier said it would start taking orders in July.
Reuters
3 days ago
- Automotive
- Reuters
China's Xiaomi to release YU7 electric SUV at end of June
SHANGHAI, June 18 (Reuters) - Chinese technology company Xiaomi ( opens new tab plans to start taking orders for its new YU7 electric sports utility vehicle at the end of June, its CEO Lei Jun said on Wednesday on his Weibo account. The company earlier said it would start taking orders in July.
The Star
4 days ago
- Automotive
- The Star
Economic Watch: Xiaomi powers EV growth through smart manufacturing
BEIJING, June 16 (Xinhua) -- Inside a workshop at Chinese tech giant Xiaomi's electric vehicle (EV) factory, the scene is a stark contrast to what one might expect to see on a factory floor. With few workers in sight, robotic arms move with precision and speed, seamlessly assembling vehicle body components. Autonomous Mobile Robots (AMRs) glide across the floor, efficiently transporting materials to their designated stations. Xiaomi entered the EV market in 2021, setting up a state-of-the-art factory spanning some 720,000 square meters in the Beijing Economic-Technological Development Area, also known as Beijing E-Town -- a key innovation hub for China's autonomous driving industry. The market newcomer unveiled its SU7 model in March 2024. Every 76 seconds, a new Xiaomi vehicle rolls off the production line at the factory, with over 700 robots operating around the clock to enable the full automation of key processes such as large-scale die casting. The factory embodies Xiaomi's vision for smart manufacturing, in which intelligent machines take the lead and automation fuels both quality and efficiency. To Lei Jun, founder and chairman of Xiaomi, the importance of sustained investment in innovation is self-evident. "Upholding our unwavering principle of 'technology as the foundation,' Xiaomi has invested over 100 billion yuan (about 13.93 billion U.S. dollars) in R&D over the past five years, making significant strides in many core capabilities. In the next five years, we plan to invest another 200 billion yuan to pursue new heights in global next-generation hard tech," Lei said. "Over the past five years, we have steadfastly pursued our high-end strategy," Lei noted, adding that amid intense competition in the auto market, Xiaomi remains committed to long-term thinking -- strengthening its core competitiveness, meeting diverse consumer demands, and advancing up the value chain in close collaboration with industry partners in an expansive, fast-evolving market. Since March 2024, Xiaomi has delivered over 250,000 vehicles, quickly emerging as a key player in China's rapidly growing new energy vehicle market by leveraging advanced smart manufacturing and a favorable policy environment to fuel its rapid ascent. "Xiaomi owes its growth and success to the fertile ground for innovation that Beijing provides," Lei said. "Supportive 'soft' environments and robust 'hard' policies have nurtured a group of innovative companies like Xiaomi, enabling them to forge ahead on new development tracks." Data shows that Beijing's R&D intensity -- measured as the ratio of total R&D spending to GDP -- has remained above 6 percent for six consecutive years, reflecting the city's strong commitment to innovation. This dedication is also recognized globally: according to a report released earlier this year, Beijing ranks among the world's top 10 innovation cities. The report, published in January, was compiled by the Shenzhen International Science and Technology Information Center, the Center for Industrial Development and Environmental Governance of Tsinghua University, and research publishing and information analytics company Elsevier. "Manufacturing is the foundation of our nation and the cornerstone of a strong country. As both a contributor to and a beneficiary of China's manufacturing development, we aim not only to bring the benefits of technology to consumers, but also to continue advancing on the path of innovation," Lei noted.
