Xiaomi is investing $490 million to develop Xiaomi Pilot Technology

Xiaomi is investing $490 million to develop Xiaomi Pilot Technology

Xiaomi has announced its R&D plans for Xiaomi Pilot Technology today. Xiaomi’s CEO, Lei Jun, stated that the company is investing RMB 3.3 billion ($490 million) and creating a team of 500 professionals to research smart driving technology. It has also announced the acquisition of several enterprises affiliated with the automated vehicle industry.

Xiaomi Pilot Technology was announced in March 2021 as the company’s initiation into the autonomous vehicle industry. Now it is providing updates regarding the development.

In the press release, the company displayed a live test video featuring the self-driving technology and discussed its attributes and the algorithm. Xiaomi also disclosed its acquisition of a startup in the smart vehicle industry, Shendong Technology.

It claims that the acquisition would expand its resources in the technical field. Moreover, the company stated that it is investing RMB 2 billion to acquire more than ten businesses that cover essential aspects like core actuators and core sensors.

Xiaomi’s autonomous cars are programmed with an emphasis on parking with its “auto-parking solutions.” The feature is currently under development, as the company states that it plans to add “a mix of AI and service-oriented features.”

Multiple teams working at Xiaomi, such as, the Xiaomi AI Lab, Smartphone Camera team, and XiaoAi AI Assistant team, are collaborating with the Xiaomi Auto group to work on a self-created algorithm to develop the Xiaomi Pilot Technology.