Xiaomi bought a company specializing in autonomous driving

The editorial staff of gg has already written about the financial report of Xiaomi, in which those who wish can find for themselves a lot of interesting numbers. But some things were left out of the picture.

As part of the same report, Xiaomi announced the acquisition of autonomous driving company Deepmotion for about $77.37 million. The acquisition is aimed at boosting the company's own R&D efforts in the field, said company president Wang Xiang.

In March, Xiaomi announced it would spend $10 billion to enter the electric car market. The company has yet to officially announce partnerships or plans for its first model, though public posts on job search sites show the company is actively recruiting talent.

Last week, a source reported that China Evergrande Group is in talks to sell its EV division to Xiaomi. Xiaomi said it has been in talks with various automakers, but has not yet decided which one to work with.

Source: reuters