Xiaomi has already received approval from the state regulator, but still needs permission from the Ministry of Industry and Information.
China’s National Development and Reform Commission (NDRC), which regulates new investments and production capacity in the Chinese automotive industry, has given the go-ahead for Xiaomi to produce electric vehicles, Reuters reports.
Xiaomi has pledged to invest $10 billion over the next decade in the automotive business and has set a goal of mass production of its first cars in the first half of 2024.
According to the state-run Beijing Daily, Xiaomi has completed the construction of a factory in Beijing capable of producing 200 thousand smartphones. of electric vehicles per year.
However, the company still needs a permit from the Ministry of Industry and Information, which evaluates new car manufacturers and models for technical and safety requirements.
The company plans to use thousands of its stores as showrooms for electric vehicles.
