As Xiaomi builds its electric vehicle team, the Chinese smartphone giant's investment in the sector continues.
Suzhou-based Yuntu Semiconductor recently added Hubei Xiaomi Yangtze Industrial Fund to its list of shareholders, information from data provider Qichacha shows.
The fund was established in 2017 by Xiaomi, the Hubei provincial government, and the government-backed Yangtze River Industry Fund for the development of products and services in the Xiaomi ecosystem.
Yuntu, a fabless semiconductor and IC design company focused on automotive chips, was founded in 2020 with a registered capital of RMB 6.19 million.
The company's business scope includes IC chip and product manufacturing, sales of special equipment for semiconductor devices, and IC chip design and services.
In addition to this, the fund has invested in KH Automotive Technologies, which focuses on the development of electronically controlled suspension controllers.
The amount of these investments is unknown and is the latest move by Xiaomi to invest in the automotive sector.
Xiaomi announced on August 25 that it had acquired DeepMotion, a self-driving technology company, for a consideration of about $77.37 million.
"Driverless technology is actually at the heart of smart electric vehicles. We are determined to be deeply involved and hope to shorten the time to market for our self-driving cars with this acquisition," said Xiaomi President and CFO Wang Xiang.
Notably, Xiaomi has invested in about 40 automotive-related companies over the past decade, participating in about 60 financing rounds.
Xiaomi's investments in the automotive sector are in four main areas: vehicle manufacturing and industry chain, autonomous driving and smart cockpits, automotive aftermarket services and mobility.
Xiaomi made a capital injection into Great Wall Motor-incubated power battery maker Svolt last month, and also made a strategic investment in Chinese lithium supplier Gangfeng Lithium.
Xiaomi reportedly to acquire a carmaker to qualify to build cars