Xiaomi shares higher in Hong Kong on report it's on hiring spree for EV factory in Beijing after received regulatory approval

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Chinese smartphone giant Xiaomi gained 3.4% in Hong Kong to close at HK$12.14 on media reports that the company is on a hiring spree for its electric vehicle factory in Beijing after receiving approval from China’s state planner for EV production.

Xiaomi is hiring a large number of workers for its electric vehicle factory in Beijing, where it is headquartered, just as the company reportedly qualifies to produce EVs.

Xiaomi’s Mi Car factory has recently started the recruitment for more than 100 factory workers, reported Chinese news outlet Sina Tech on Thursday.

Xiaomi’s car factory recently started hiring workers, opening up a number of positions including painting and battery shops, which means Xiaomi’s cars are about to enter the production phase, according to the report.

Since August, Xiaomi has been opening up its auto factory for general workers, with a shortfall of more than 100 and a quick hiring process, the report said, citing a supplier source who provides recruitment services for Xiaomi’s auto factory.

General workers who have graduated for less than a year will be paid 4,300 yuan ($590) per month, with 18 months’ salary a year, while those who have graduated for more than a year will be paid 4,300 – 5,500 yuan per month, also eligible for 18 months of salary a year, but work experience in an automotive factory is required, the report said.

One day earlier, Reuters reported that Xiaomi has received approval from the National Development and Reform Commission (NDRC), China’s top economic planner to manufacture electric vehicles.

While the NDRC’s approval brings Xiaomi one step closer to mass-producing EVs, it still needs to get approval from China’s Ministry of Industry and Information Technology (MIIT), which is responsible for evaluating the technical and safety requirements of new automakers and models, according to the report.

Xiami has declined to comment on the media reports.

Xiaomi had pledged to splurge $10 billion in the automotive business over the next decade, with the goal of churning out its first car in the first half of next year.