Today, Xiaomi Group officially announced that the company and Deepmotion Technology related parties have entered into a share purchase agreement with a total purchase price of approximately US$77.37 million.
According to this, the company conditionally agreed to purchase and each common shareholder seller and each preference shareholder seller conditionally agreed to sell 125 million common shares and 50,854,700 preferred shares, which are 71.16% and 28.84% of Deepmotion’s issued share capital, respectively.
The president of Xiaomi Group Wang Xiang responded to the latest developments in the earnings call regarding Xiaomi’s car-making actions that the market is concerned about. Regarding Xiaomi’s acquisition of Deepmotion Technology, Wang Xiang introduced that autonomous driving technology is the most important technology for smart electric vehicles, and Deepmotion Technology has strong R&D capabilities, technology accumulation and landing experience in the field of autonomous driving. “Xiaomi is very optimistic about the technology research and development capabilities of the Deepmotion Technology team, and hopes to accelerate Xiaomi’s research and development in autonomous driving technology through the acquisition.”
Deepmotion Technology is an autonomous driving technology company, focusing on providing algorithms for the perception, positioning, planning and control of advanced driver assistance systems, as well as a complete set of software solutions for autonomous driving applications.
Xiaomi Group stated that Deepmotion Technology has strong technical reserves and R&D capabilities, and provides a complete set of solutions including perception, positioning, planning and control for advanced assisted driving systems (ADAS) and autonomous driving applications, which can enhance the company’s intelligence Core technical capabilities in the electric vehicle business.
As for Deepmotion Technology, it may integrate a team of more than 20 people into Xiaomi, which will help Xiaomi initially increase its technological accumulation in the field of autonomous driving, complement the leaders in various fields, and lay the foundation for Xiaomi to build cars.