December 10, 2023

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Xiaomi targets autonomous driving with Deepmotion acquisition

Xiaomi targets autonomous driving with Deepmotion acquisition

Chinese sensible-phone giant Xiaomi Company declared this 7 days it ideas to acquire neighborhood 3D imaging start-up Deepmotion in a offer value more than US$77m, as it seems to be to expand into the autonomous driving and connected technological innovation sector.

Xiaomi’s CEO Lei Jun is wanting to diversify the company’s business enterprise and is reported to have pledged to commit US$10bn to establish alone in the sensible electrical automobile (EV) sector.

Income-prosperous Xiaomi claimed a 64% surge in revenues in the second quarter of 2021 to CNY87.8bn (US$thirteen.5bn), aided by strong desire progress in India.

Xiaomi president Wang Xiang confirmed on Wednesday his enterprise is mostly fascinated in Deepmotion’s autonomous driving and driver support software program development division, as it seems to be to acquire Degree four self-driving abilities. He reported in a statement “through this acquisition, we hope to shorten the time to sector for our merchandise. We want to pace up our autonomous driving exploration and development.”

Xiaomi is wanting to consider on a amount of Chinese technological innovation giants, such as Huawei Technologies Company and Baidu Inc, which have been investing in self-driving technological innovation development for many a long time.

The enterprise is wanting to employ the service of an original five hundred engineers to generate forward its EV task and has held talks with a amount of automakers and neighborhood governments on setting up possible partnerships.

Last 7 days it was claimed to have held talks to acquire a stake in China Evergrande New Vitality Automobile Group, a subsidiary of house enterprise China Evergrande Group, as well as with Black Sesame Technologies – a startup that develops synthetic intelligence chips and units for motor vehicles.