Xiaomi to strengthen position in autonomous tech, EVs

19
Beijing

The world’s second-largest smartphone manufacturer, Xiaomi has announced that it will buy autonomous driving technology company Deepmotion for $77.4 million to strengthen its position in the crowded field of autonomous technology and electric vehicles.

“We have been focusing on building the best team for this important initiative. In the last couple of months, we have received over 20,000 applications for our smart EV business,” said Alain Lam, vice president and chief financial officer of Xiaomi.

“We will acquire a company called Deepmotion, one of the leading providers of L4 autonomous driving technology. —LTP

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