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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…
