In March 2021, Xiaomi officially announced its plan production of cars in the Chinese auto industry. Followed by the announcement, Xiaomi had been making multiple agreements in the patents and investment section. A few days ago, we had reported the news where Xiaomi officially announced the acquisition of Deepmotion, an autonomous driving technology company. They acquired it for USD 77.37 million, and you can read more about the investment of Xiaomi by clicking here. Now, reports are suggesting that Xiaomi has invested in Motorcomm, a microelectronic brand.
More about the investment!
According to the Qicha App, Xiaomi has invested in the auto-related industry once again. The Suzhou Yutai Microelectronics Co., Ltd has undergone a significant change in both the industrial and commercial sectors. Further, it also gets a new shareholder named Hubei Xiaomi Yangtze River Industry Fund Partnership (Limited Partnership). This is none other than the smartphone giant Xiaomi. At the same time, the company’s registered capital saw an increase of 341,100 Yuan. That is, the brand’s capital increased from 7,781,300 Yuan to 8,122,400 Yuan.
According to the information available on the website of Motorcomm, it is a research and development company that manufactures the core communication chips for vehicles. The brand company was established back in 2017. And currently, the legal representative of Motorcomm is Ouyang Yufei. The business scope of the brand includes technology development in the fields of electronics, automobiles, industrial automation, and computers. Further, the brand has also expanded to consulting, technical services, technology transfer, etc.
Recently, Xiaomi President Wang Xiang made a statement in an interview with the media. He said that his team had begun in-depth research and research and development of the most critical core technology of smart electric vehicles. He also added that he hopes that through the acquisition of Shendong Technology, Xiaomi’s self-driving cars can be produced earlier. That is, his team can reduce the time needed for the development of self-driving vehicles. With this, they can compete significant players in the EV segment like Tesla. Stay tuned with us for updates regarding Xiaomi’s investment in the EV sector.