Xiaomi acquired 6.35 billion yuan of land in Beijing, or plans to build the third phase of a car factory.

On June 19th, according to the website of the Beijing Municipal Commission of Planning and Natural Resources, the industrial project of the YZ00-0606 block 0110 in Yizhuang New Town was sold for approximately 635 million yuan. The winning bidder was Xiaomi Jingxi Technology Co., Ltd., a company 100% owned by Xiaomi Smart Technology Co., Ltd. The listing document shows that the land is being sold in the form of "six channels and one level", with industrial land use, a total land lease period of 50 years, and a land area of 485,100 square meters. On March 11th of this year, the Economic and Technological Development Zone Bureau of the Beijing Municipal Commission of Planning and Natural Resources issued the "Comprehensive Implementation Plan for the YZ00-0606 Block 0110 and 0111 in Yizhuang New Town," which included the establishment of two new industrial land plots near the Xiaomi car Phase I and Phase II factory projects. It is speculated that this may be for the Xiaomi car Phase III factory project.