Home » Xiaomi accelerates on the electric car and acquires a startup for autonomous driving

Xiaomi accelerates on the electric car and acquires a startup for autonomous driving

by admin

In March, Xiaomi announced its intention to launch into the electric car business with an investment of 10 billion dollars. Now it has bought Deepmotion, an autonomous driving startup, precisely to accelerate the project, and in particular to improve the technological competitiveness of its next generation vehicles. The Chinese technology company, which is the second largest smartphone manufacturer in the world, wastes no time and thus makes its way into an increasingly crowded market.

history

From rice grains to technology, 11 years of Xiaomi and 3 years of Xiaomi Italia

by Emanuele Capone


The company announced the acquisition of Deepmotion for approximately $ 77.37 million after reporting financial results for the second quarter of the year which saw revenue increase 64% year-on-year to 87.8 billion yuan ( $ 13.5 billion). Xiaomi said revenue and adjusted net profit hit record highs in the quarter, with smartphones accounting for 67.3% of overall revenue. Its climb is also demonstrated by the fact that Xiaomi has ousted Apple by market share, jumping to the second step of the podium among global smartphone manufacturers with a market share of 17% against the 14% of the Cupertino company. But now the Chinese giant is trying to reduce its dependence on cell phones by moving towards other connected devices.

The first is Samsung

Xiaomi also surpasses Apple: it is second in the world in the smartphone market


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The Chinese company will create a wholly owned subsidiary with an initial investment of approximately $ 1.5 billion. So far, the company hasn’t given any indication as to whether it will produce budget models or whether it will target the high-end of the market. “Xiaomi hopes to offer quality intelligent electric vehicles to allow everyone in the world to enjoy intelligent life anytime, anywhere,” he said in recent months.

The company is launching into an incredibly competitive market, because in addition to Tesla and Chinese rivals Nio and Xpeng, internet companies are also entering the arena of intelligent electric vehicles. Then there is Huawei, which has announced an operating system designed specifically for cars. Meanwhile, Chinese search giant Baidu launched a standalone electric car company in January and hired a CEO for that business the following month. Research firm Canalys estimates that 1.9 million electric vehicles will be sold in China in 2021, representing a year-over-year growth of 51%.

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