Earlier this year, Xiaomi had announced the commencement of its smart electric vehicle business and had even revealed its sizeable investment plans for the next decade. Since then, the company has invested and acquired various companies related to the automobile industry, with the latest investment being in Motorcomm.
This would mark another investment that the Chinese tech giant has made into firms related to automobiles. Furthermore, the company invested in Motorcomm through the Hubei Xiaomi Yangtze River Industrial Fund. For those unaware, Motorcomm working with research and the development of core communications chips that are found in vehicles. The firm was established back in 2017 and its business scope includes technology development, industrial automation, automobiles, consulting, and other technical services as well.
Notably, Xiaomi’s President Wang Xiang had recently stated in an interview (Via ITHome) that the company has begun with in depth research and development of the key core technology of smart electric cars. In other words, this investment might be quite important as well since core communication chips for vehicles is an important aspect, especially for smart cars. Just recently, we had also reported on the brand seeking to acquire DeepMotion, which is an autonomous driving technology based startup for a sum of 77.4 million US Dollars.
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