Xiaomi Acquired Autonomous Driving Company DeepMotion

Xiaomi has acquired the autonomous driving company DeepMotion (Deep Motion Technology).

As media says, DeepMotion may integrate a team of more than 20 people into Xiaomi, which will help Xiaomi initially increase its technological accumulation in the field of autonomous driving, complement the leaders in various fields, and lay the foundation for Xiaomi to build cars.

The news did not mention the transaction amount, but the many believe that the company’s valuation can be at least 1 billion yuan ($0.15 billion). The two parties have not yet responded.

Also Read: Xiaomi Recruits Talents For Its Car Manufacturing

At the end of March this year, Lei Jun announced that Xiaomi will enter the car industry with a 10-year investment of 10 billion U.S. dollars and an initial investment of 10 billion yuan ($1.54 billion). Lei Jun also said that “I am willing to bet on all the reputation of my life, put on the battle again, and fight for the Xiaomi car!”

Prior to this, Lei Jun, Chairman and CEO of Xiaomi Group, stated that according to users’ voting, Xiaomi’s first car will be either a sedan or an SUV. Also, the price range is expected to be 100,000 to 300,000 yuan ($15400 – $46000).

Lei Jun also said that the newly designed Xiaomi round logo is more suitable for car brands than the square. But it is not certain because the logo design is determined before the car plan is announced.

Well, we knew that Xiaomi has intentions to make a car. And though at the moment, everything is officially announced, the first Xiaomi car won’t hit the market sooner than 2-3 years.

VIA

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