Xiaomi talks with Chinese language automaker BAIC for electrical automobile manufacturing, says Bloomberg

Xiaomi talks with Chinese language automaker BAIC for electrical automobile manufacturing, says Bloomberg

Smartphone maker Xiaomi is considering a partnership with Beijing Automotive Group Co (BAIC) to produce electric vehicles as it faces delays in acquiring a license to manufacture cars on its own, Bloomberg News said on Friday.

Xiaomi and BAIC are exploring various options, including the smartphone company’s purchase of a stake in Beijing Hyundai’s second factory, which has a license to manufacture vehicles in China, the report said, citing people familiar with the matter.

Beijing Hyundai, a joint venture between Hyundai and BAIC, has three factories in Beijing.

Xiaomi and BAIC did not comment. An executive at Beijing Electric Vehicle Co, BAIC’s electric vehicle unit, told Reuters he is not aware of such negotiations between the companies.

A Hyundai spokesperson said the allegations reported about the South Korean company are “baseless”.

Source: Reuters

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