Chinese tech powerhouse Xiaomi is making progress in its quest to produce an autonomous electric vehicle. The company has made a substantial investment in the development of a Xiaomi car brand since May 2021. Xiaomi CEO Lei Jun has now announced its in-house autonomous driving solution called Xiaomi Pilot Technology. The new technology is being developed by the company’s R&D team with $500 million worth of funding.
The Xiaomi Pilot Technology is a milestone in the company’s pursuit of a Xiaomi EV. The technology is touted as the next-generation self-driving technology. Xiaomi provided a short video outlining the new self-driving technology. Xiaomi says it aims to become an industry leader in the smart EV industry by 2024. It recruited over 500 experts to form the R&D team driving its EV ambitions. Xiaomi has also completed several strategic investments and acquisitions in the process. Xiaomi’s CEO believes the team has exceeded prior expectations and this is evidence of the quality of the team recruited.
Xiaomi says it continues to recruit global talent into the R&D team which is expected to grow to 600 members by the end of the year. The company has drawn expertise from AI experts and companies. It expects to fully develop the technology needed for the Xiaomi autonomous EV without third-party inputs and in record time.
One of the important acquisitions was Shendong Technology, an autonomous driving company. The acquisitions seem to be a masterstroke, as it afforded Xiaomi to immediately tap from the ST architecture and technologies already in place. Further investments in talent and expertise are planned by Xiaomi, going forward. Xiaomi already has direct involvement in up to 10 autonomous driving solutions firms. Both the software and hardware aspects of the Pilot Technology are being superintended over by Xiaomi and the outlook remains bright.
The Xiaomi Pilot Technology will feature automatic robotic arm charging, autonomous valet parking, reserved parking space, and many other innovative services. A fleet of 140 test vehicles will herald the birth of the new autonomous driving solution. Xiaomi has pledged up to $10 billion in investment in autonomous EV manufacturing. It hopes to exceed its target in two years.
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