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CnEVPost Newsletter: Xiaomi EV factory expansion; BYD Mexico plant rumor

Published about 1 month ago • 1 min read

CnEVPost Newsletter: Daily Recap

Mar 19, 2025

​Xiaomi plans to expand Beijing EV factory, report says​

Xiaomi began building a second factory on a 53-hectare site in Beijing last year, and the latest expansion will see the plant occupy an adjacent plot of about 52 hectares, according to Bloomberg.

​Xiaomi's EV business brings in $2.25 billion in revenue in Q4, up 71.58% from Q3​

Xiaomi's innovative business, including EVs, posted a gross margin of 20.4 percent in the fourth quarter, up from 17.1 percent in the third quarter.

​China delays approval of BYD's Mexican plant amid fears tech could leak to US, report says​

Chinese authorities are concerned that Mexico would gain unrestricted access to BYD's advanced technology and know-how and may even possibly allow the US access to it, according to the Financial Times.

​Xpeng plans to award CEO 28.5 million shares, with stock performance-related conditions​

Xpeng CEO He Xiaopeng can unlock the full award if the company's Hong Kong-traded share price rises to HK$750 from the current HK$89.55 within 10 years.

​IM Motors launches LS6 SUV in Thailand, officially begins overseas expansion​

The LS6 has been rebranded as the IM6 in Thailand with a starting price of 1,399,900 baht ($41,600).

​China NEV retail at 427,000 in Mar 1-16, up 63% from same period last month​

Cumulative retail sales of passenger NEVs in China so far this year totaled 1.853 million units, up 36 percent year-on-year.

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