Wang Gang | Visual China Group | Getty Imageshas acquired an autonomous driving start-up, jumping into an extremely competitive area, while trying to diversify its business beyond smartphones.
Xiaomi said Wednesday it had acquired Deepmotion for around $77.37 million to "enhance the technological competitiveness" of its electric vehicle business.and invest $10 billion over the next 10 years. The acquisition could help bring autonomous driving features to the cars Xiaomi eventually produces, a feature being developed by many automakers for next-generation electric vehicles.