Xiaomi unit wins land tender in Beijing for EV manufacturing

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A Xiaomi unit has won a tender to buy a plot of land in Beijing close to its existing car factory for 635 million yuan ($88 million), which it plans to use for a smart connected car and components project, a city regulator said on Thursday.

The win for a 50-year lease to the 485,134 square metre-large plot of land was announced by Beijing’s municipal planning and natural resources commission.

The land plot is close to the second phase of Xiaomi’s EV factory. Xiaomi Jingxi Technology, winner of the tender on Thursday, secured the second phase that…



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Xiaomi unit wins land tender in Beijing for EV manufacturing


A Xiaomi unit has won a tender to buy a plot of land in Beijing close to its existing car factory for 635 million yuan ($88 million), which it plans to use for a smart connected car and components project, a city regulator said on Thursday.

The win for a 50-year lease to the 485,134 square metre-large plot of land was announced by Beijing’s municipal planning and natural resources commission.

The land plot is close to the second phase of Xiaomi’s EV factory. Xiaomi Jingxi Technology, winner of the tender on Thursday, secured the second phase that…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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