The editors of gg have already written about Xiaomi’s financial report, in which anyone can find many interesting figures for themselves. But there is something left behind.
As part of the same report, Xiaomi announced the acquisition of Deepmotion, an autonomous driving company, for approximately US$77.37 million. The purpose of the acquisition is to intensify its own research and development in this area, said company president Wang Xiang.
Xiaomi announced in March that it would spend $10 billion to enter the electric vehicle market. The company has yet to formally announce a partnership or has no plans to build its first model, although public posts on job search sites indicate that the company is actively recruiting talent.
Last week, a source revealed that China Evergrande Group was in talks to sell its EV division to Xiaomi. Xiaomi said it has spoken to various automakers but has not yet decided which one to work with.