Fast Technology, August 8 - Recently, a plot of industrial land in Beijing's Yizhuang Development Zone was sold, located east of Xiaomi's automotive factory, with Xiaomi Jingxi Technology Co., Ltd., a subsidiary of Xiaomi, as the successful bidder.

According to documents, the plot will be used for an automobile manufacturing project, with an initial bidding price of approximately 842 million yuan, which was ultimately the final transaction price.

It is reported that this land will be used for the construction of the second phase of Xiaomi's automotive factory.

Notably, according to videos taken by netizens on-site, construction work on the factory has commenced rapidly, even starting on the same day as the payment.

The photographer revealed that construction was in full swing even on weekend evenings, progressing quickly, indicating that the second phase of the factory should be completed soon.

The plot covers an area of 531,130 square meters, with a construction control scale of ≤690,469 square meters and a total lease term of 50 years.

According to the design plan, the total gross floor area of the project is approximately 400,000 square meters, including 391,500 square meters above ground and 8,503.33 square meters below ground, with a plot ratio of 0.74, a maximum building height of 15.95 meters, a green space ratio of 15.04%, and a total of 1,009 parking spaces for motor vehicles.