The Chinese company Xiaomi does not hide its interest in the automotive market. Moreover, in the spring of this year, it announced the opening of a new business associated with the production of “smart” electric vehicles with unmanned control systems. As part of the new direction, Xiaomi is actively investing in various companies and technologies, one way or another related to the automotive industry. This time, the Chinese tech giant will invest heavily in Motorcomm.
Motorcomm is a company specializing in the research and development of communication chips for vehicles. She is called one of the leading manufacturers in this area. The company was founded in 2017 and today the scope of its activities includes, in addition to the development of automotive technology, production automation, consulting and other technical services.
Xiaomi invested in Motorcomm through the Hubei Xiaomi Yangtze River Industrial Fund. The size of the investment and other terms of the deal were not disclosed.
By the way, recently it became known that Xiaomi bought 100% of the shares of DeepMotion, a startup specializing in the development of autonomous driving technologies. The deal cost the Chinese company $ 77.4 million.
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