The company is adding another $300 million to its long-term industrial strategic capabilities, which involves a direct stake in more than ten already operating businesses that deal with everything from sensors to actuators to controllers in the autonomous driving space.
Smartphone maker Xiaomi's fully internally developed autonomous driving technology, called Pilot Technology's first progress report has been launched by the company's CEO Lei Jun. The company is looking to invest $500 million toward the formation of the R&D team and the creation of its self-driving technology, which it refers to as the most advanced in the industry, GSM Arena reported.
New technology advancement
The company is adding another USD300 million to its long-term industrial strategic capabilities. This investment entails a direct stake in more than ten already operating businesses that deal with everything from sensors to actuators to controllers in the autonomous driving space.
Xiaomi is taking no chances in ensuring that it has constant access to supplies and technology.
What’s full stack strategy?
The company uses a full stack strategy, giving it total control over the software and hardware, and developed the autonomous driving algorithm entirely in-house. This strategy enables the business to create wholly proprietary solutions with closed-loop data capabilities. It allows for rapid software and hardware updates that can be user-driven.
The company wants to ensure that it has constant access to supplies and technology. Xiaomi's R&D in this space is also driven by the demand for assisted "reserved parking space" or "autonomous valet parking". The company further plans to add even more cutting-edge services such as automatic robotic arm charging.
File photo used for representational purpose only
As part of the first phase of the program, Xiaomi is working to build a fleet of 140 test vehicles for the Pilot Technology. The company's R&D team for autonomous driving includes over 500 experts from around the world. In fact, the company also made a number of acquisitions and strategic investments to ensure access to the most recent innovations and technologies related to autonomous driving.
For its R&D team, Xiaomi hired over 500 experts from around the world. To ensure access to the most recent innovations and technologies, the company made a number of acquisitions and strategic investments along the way.