Li Auto has officially started building a new production facility in the outskirt of Beijing, expected to start production by the end of 2023, Chinese media reported Saturday. The new facility is built on the base of an old production facility owned by Korean automaker Hyundai. The Chinese EV maker unveiled its first manufacturing site in the eastern city of Changzhou in April 2019. The new plant will reportedly cost more than RMB 6 billion ($930 million) and double Li Auto’s annual production capacity to 200,000 vehicles. [Beijing Daily, in Chinese]