Xiaomi aims to become a smart EV leader in 2024 with an investment of 3.3 billion yuan

After announcing its entry into the smart electric vehicle (EV) segment 500 days ago, Xiaomi has finally updated its self-driving technology progress. The company plans to invest RMB 3.3 billion (US$489.1 million) in building his team of over 500 professionals. We are poised to lead the industry in 2024.

The China-based company provided the latest news on Xiaomi Pilot Technology at its founder and CEO Lei Jun’s annual speech on August 11th. In-house developed full-stack With his approach in mind, Xiaomi has developed his R&D team. We expect to have over 600 members by the end of this year.

According to the company, core members came from well-known AI companies with expertise in sensors, chips, algorithms, simulations, toolchains and data platforms. All of this is essential for the company to mature its self-driving technology.

The company also said it will develop the EV hardware, software, recognition and positioning in-house. Additionally, we are dedicated to creating solutions that enable full closed-loop data functionality.

According to Lei, the project is on track and ahead of expectations. The CEO pointed out that the inclusion of self-driving technology is the key for smart EVs to stand out in the market.

He said Xiaomi plans to field 140 vehicles in the first phase of the project and test vehicles across China. Lei aims to become a leading manufacturer of smart EVs by 2024 and has pledged to regularly publicize its self-driving technology when the time is right. auto home.

Xiaomi has revealed its ambition to build the vehicle in March 2021. He plans to invest 3.3 billion yuan in his first R&D phase of the project, according to Thursday’s announcement. In addition, we have made several acquisitions and strategic investments in upstream and downstream companies to drive medium- to long-term growth in this area.

For example, Xiaomi has acquired ownership of self-driving startup Shendong Technology. He has also provided RMB 2 billion in financial support to companies in areas focused on core sensors, core actuators, domain controllers, etc.

Xiaomi released a video about road testing its self-driving technology at an event on Thursday. Footage showed a vehicle equipped with the company’s system bypassed a vehicle temporarily parked on the street, successfully changed lanes, and overtook the car. You can also navigate roundabouts and give way to pedestrians at crosswalks.

In addition, Xiaomi highlighted its automated parking solutions covering several scenarios, such as reserved parking spaces, automated valet parking, and automated robotic arm charging.

Several China-based technology companies are entering the automotive manufacturing space. Three days before his Xiaomi event, Baidu and Geely joint venture Jidu Delivery of first mass-produced robot car in late 2023has reached its goal of delivering 800,000 vehicles per year by 2028.

Another tech giant, Huawei, supplies products to automakers including BAIC, Changan and Dongfeng Motors. squid. Xiaomi aims to become a smart EV leader in 2024 with an investment of 3.3 billion yuan

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