Xiaomi

"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."

DeepMotion provides full-stack autonomous driving solutions, including technologies such as forward/round/perimeter vision perception systems and autonomous valet parking AVP solutions.

Alpark was founded in 2015 and closed a hundreds-of-millions-of-RMB Series B round of funding led by Nio Capital, Nio's venture capital arm, in 2018.

Svolt Energy added several new shareholders on August 18, including Hubei Xiaomi Changjiang Industry Fund, backed by smartphone giant Xiaomi.

Following reports on Thursday that Evergrande Group was in talks with companies including Xiaomi to sell stakes in its electric vehicle business, both of them clarified.

Xiaomi has invested in nearly 40 automotive-related companies over the past decade and has participated in a total of 57 financings.

Xiaomi's headquarters and first factory for its car business have been largely confirmed to be set in Beijing, Auto Business Review said on Weibo on Monday.

While Xiaomi has announced its entry into the car-making field, the city where the business will be housed remains undetermined, making it a target of competition from Chinese cities.

Xiaomi, the smartphone giant that made a high-profile announcement this year about jumping on the car-making bandwagon, continues to lay out its business in the sector.

SAIC said it will actively build a new industrial ecology with several Internet companies through cross-industry cooperation.