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    Xiaomi to expand its automotive component business through investment in BYD Semiconductor

    Xiaomi

    By Yes Mobile

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    Xiaomi to expand its automotive component business through investment in BYD Semiconductor

    Xiaomi to expand its automotive component business through investment in BYD Semiconductor

    Xiaomi, the identified smartphone maker, has just lately invested 50 million Yuan (roughly 7 million US {Dollars}) into BYD’s Semiconductor enterprise. The smartphone vendor has acquired a 0.49 p.c stake in the agency, which is a transfer to develop its personal automotive part enterprise.

    For these unaware, BYD is a Chinese language group that specializes in a number of fields consists of cars, semiconductors, photo voltaic panels, and extra. Moreover, the Chinese language firm additionally just lately introduced that it has raised a complete of 800 million Yuan (roughly 112 million US {Dollars}) from Xiaomi, SK Group, and even Lenovo.

    In accordance to some analysts, the funding from Xiaomi marks a step of the corporate’s plans on rising its elements enterprise or, in less complicated phrases, automobile elements, inside the vehicle business. Via this funding, Xiaomi will be capable to achieve entry to knowledge collected by vehicles made by BYD, serving to it create a software-hardware built-in platform.

    Xiaomi

    Notably, BYD Semiconductor’s merchandise have the very best adoption charge by vehicles in China. Throughout the business, the corporate has a sizeable market share of 18 p.c in 2019. Moreover, it is usually planning on venturing additional into the commercial car sector. Therefore, the funding from Xiaomi is a useful position for each side, with capital being gained by one and knowledge for the opposite.

     

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