This means that at least in the next 12 months, Beijing’s policies will revolve around this conference, and we can expect waves of policies for Xiaomi car and Li Auto to follow.
In 2021, Li Auto and Xiaomi car settled in Beijing one by one.
May 2021, several media quoting a document from Beijing Shunyi District People’s Government Official Website reported that Li Auto will build a new factory in Shunyi District, Beijing, with a total investment of 6 billion RMB, the former Hyundai’s deactivated plant will be used to build a digital and flexible intelligent manufacturing plant and will have over 2000 high-technological talents to work there.
In addition, Li Auto will build an industrial innovation center and supercharging station in Beijing. to display the latest models and technical innovations to public.
The project is scheduled to be put into operation in 2023 and will achieve an annual production capacity of 100,000 units of pure electric vehicles.
In November 2021, Xiaomi and Beijing Economic and Technological Development Zone Administrative Committee signed a co-agreement on the Xiaomi car project.
According to the agreement, the Xiaomi car project will build the Xiaomi car headquarters base, sales headquarters and R&D headquarters, will be built in two stages of the annual output of 300,000 vehicles factory, and is expected to mass production in 2024.
With national support, the future of electric vehicles in China is even more promising.
“China’s annual production and sales of new energy vehicles reached 3 million units, a cumulative increase of over 160% year-on-year, with a penetration rate of over 10% and a compound annual growth rate of over 110%, and that China’s annual sales of new energy vehicles are expected to reach 5 million units in 2022.” said by the Chief Engineer and Deputy Secretary General of the China Association of Automobile Manufacturers.
The shift from a reduction in subsidies to an increase in support also reflects the fact that the electric vehicle industry in China is undergoing a stage change. Xiaomi car and Li Auto will have Beijing’s help at least in the next 12 months.