BAIC Blue Valley’s share price soared 22.18%: Interpretation of Xiaomi Auto OEM cooperation rumors

According to news on October 19, the official debut date of Xiaomi cars is getting closer, and rumors about the model are also getting more intense. Recent news has pointed out that Xiaomi is negotiating cooperation with a number of automobile manufacturers, hoping to outsource automobile OEM manufacturing, including BAIC Blue Valley. BAIC Blue Valley recently responded to this rumor.

BAIC Blue Valley’s share price has recently increased by 22.18% for three consecutive trading days. A reporter called BAIC Blue Valley's investment department as an investor to inquire about rumors about whether BAIC Blue Valley would become an OEM manufacturer for Xiaomi cars. Relevant personnel from BAIC Blue Valley responded that the company has not received any relevant information. In addition, the staff member also said that BAIC Blue Valley will cooperate with Huawei Smart Selection next year, further emphasizing the company's development plan. Given that the company stated in its announcement on the evening of October 18 that there had been no major changes in its daily operations, it can be speculated that the above rumors may not be true.

Previously, a person familiar with the matter revealed that Xiaomi Motors plans to adopt a "dual-line advancement" strategy to produce sedans and SUVs respectively. Xiaomi has completed the first phase of its own factory to produce sedan models. After negotiating with a number of car manufacturers, Xiaomi plans to OEM SUV models. Although there were previous cooperation negotiations with JAC, they ultimately failed to reach an agreement, and BAIC Blue Valley is one of the potential OEMs that has a closer relationship with Xiaomi.

According to previous disclosures from Xiaomi, Xiaomi Motors will plan to build a vehicle factory in the Yizhuang area of ​​Beijing in two phases. The first phase of the factory has been basically completed and put into operation, with an annual production capacity of 150,000 vehicles. Xiaomi founder Lei Jun boldly stated that their goal is to sell 100,000 cars in 2024.

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