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Xiaomi Buys Self-Driving Company as It Accelerates Apple Car Rival Development

The tech industry is slowly but surely pouring billions of dollars into the automotive market, with Apple, Xiaomi, and Huawei spearheading this expansion that’s expected to generate a whole new self-driving trend that would eventually attract other big names in the market too.
Xiaomi wants to become one of the first tech companies to invest in self-driving EVs 8 photos
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While Apple has remained completely tight-lipped on its car ambitions, Xiaomi has already confirmed that it’s willing to spend no more, no less than $10 billion over the next 10 years specifically to set up an electric vehicle business and bring at least one such model to the market.

Most recently, Xiaomi has purchased Deepmotion, an autonomous driving startup, specifically as the Chinese tech company wants to accelerate its work on the development of an electric system that would eventually power its first car.

Xiaomi hasn’t shared too many details on the deal, but it’s believed the company wants to use the technology developed by the startup specifically as it builds a rival to the upcoming Apple Car.

Deepmotion, which has become a Xiaomi asset as part of the $77 million deal, develops autonomous driving systems which could allow the Chinese tech company to build a rival initially aimed at local rivals like Baidu and Huawei, though the long-time ambitions are to compete internationally against other big names such as Tesla.

Xiaomi’s global businesses are all growing at a super-fast pace, and most recently, the company managed to secure the leading spot in the mobile market, mostly thanks to its investments in more affordable products but also as a result of Huawei’s decline in the majority of large markets.

Just like Apple, Xiaomi is expected to bring its tech know-how to the automotive field, so its first car would be a model filled with sensors and new-gen technology that would expand the next-generation EV segment and pave the way for innovative features that could become more mainstream towards the end of the decade.

 
 
 
 
 

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