Xiaomi continues to invest in electric cars by purchasing the company for autonomous driving Deepmotion at the price of $ 77.37 million (€ 65.8 million). With this move, Xiaomi aims to compete with companies such as Tesla, Waymo and, in the future, even Apple.
Xiaomi buys Deepmotion and aims at the electric car sector
The tech greats are aiming for the car market. The new technologies for assisted and autonomous driving, the growing intelligence of our cars invites companies like Apple to think about building their own electric car. Xiaomi has clearly stated this goal with the acquisition of Deepmotion, expert in autonomous driving programming.
According to the acquisition documents, this move should “advance the technological competitiveness” of the Chinese company in the electric car market. A business in which Xiaomi believes very much, since it announced in March that it intends to invest 10 billion dollars over the next ten years in the sector. “Xiaomi hopes to be able to offer quality smart electric vehicles so that anyone in the world can enjoy smart living at any time, in any place”.
The company announced the acquisition after reporting its financial results for the second quarter of 2021. The company achieved record revenue of 87.7 billion yuan (11.5 billion euros). In July, it overtook Apple like second company for the number of smartphones sold, second only to Samsung. But if it is true that smartphones are the most profitable business, the company sells smartwatches, TVs, scooters. And soon cars. If it were to do it at the pace at which it has grown in the mobile market, we would have a new one major player in the electric car market.
But to find out, we just have to wait to find out about his first car. We will keep you informed.