Lei Jun, CEO of Xiaomi, stated on Wednesday that the company’s second smart factory will begin production in late 2023. A Xiaomi representative told TechNode that the firm began building the new automated factory in Beijing’s suburban Changping district last July. Covering 58,300 square meters, the new factory is expected to have an annual output of 10 million smartphones, with an estimated production value of RMB 60 billion ($8.8 billion). Xiaomi’s first smart factory is also located on the outskirts of Beijing, in Yizhuang, and began operating in 2019. [Xiaomi statement, in Chinese]