Deepmotion

History

2021: Xiaomi bought Deepmotion

  At the end of August 2021, Xiaomi announced the purchase of Deepmotion, a company specializing in autonomous driving technologies, for $77.4 million.   This transaction will help the buyer realize their ambitions in the rapidly developing area that the startup represents. Co-founder and CEO Lei Jun focused on taking Xiaomi beyond smartphone production. Lei Jun noted that the company has enough investment to finance such a project, which requires years of large investments in development and production before the first car is sold.

Xiaomi bought a technology developer for unmanned vehicles

  The acquisition of Deepmotion, which develops driver assistance software, is the latest step in Xiaomi's journey. A number of tech giants from Huawei Technologies to Baidu have already spent years developing components and automatic driving technologies.   Xiaomi Senior Vice President Wang Xiang, said on September 1, 2021 that the purchase is designed to help Xiaomi develop Tier 4 autonomous driving technology that allows you to fully autonomously drive a car.   While other details about Xiaomi's car-making efforts remain unclear, the company has begun hiring 500 engineers for the project and has already been in touch with several automakers and local authorities for a potential partnership. The company also considered investing in Black Sesame Technologies, a startup developing chips and AI systems for cars.   Having gained fame as a manufacturer of inexpensive phones sold through e-commerce channels in China, Xiaomi is trying to change its image by offering elegant design and increasingly complex gadgets and devices on the market.^[1]

Notes