Xiaomi moves to take on Tesla's self-driving cars as profits surge

Chinese smartphone company Xiaomi is expanding once again. After the massive fiscal growth of its smartphone division, the tech giant is exploring pastures new. As it continues to take on the likes of Samsung for home entertainment, it’s also targeting Tesla with robotics and vehicles.

In a report by Reuters, it’s revealed far Xiaomi is going right for Tesla's bread and butter: self-driving cars. As Elon Musk's company continues to work on its long-promised FSD tech, Xiaomi-Corp plans to step into the ring.

Xiaomi will make self-driving cars

The Chinese tech giant’s autonomous vehicle plans start with the purchase of local startup DeepMotion. DeepMotion has been working on an intelligent advanced driver assistance systems (ADAS) device since 2017. After a $77 million purchase, the company will now be developing that tech for its new owners.

Xiaomi isn't skimping on its entry into self-driving electric vehicles. The company plans to spend around $10 billion to become a major player in the Autonomous vehicle sector. At the time of writing, the company has been “aggressively” hiring to bolster its talent.

Before its acquisition of DeepMotion, the company was scouting multiple possible teams to pick up. The Reuters report explains that the China Evergrande Group was planning on selling to the smartphone company just a few weeks ago. However, that has obviously not gone through.

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Robotics are key

On top of its entry into FSD vehicles, Xiaomi is going deep into the world of robotics. Earlier this month, the company unveiled its first quadruped robot: the Cyberdog. As a bid to take on Boston Dynamics and Sony, the cheaper Cyberdog aims to be an affordable entry level robot.

As the company continues to grow, Xiaomi is taking on more and more fields to work in. At the time of writing, it doesn't seem like the company is failing in any sector its entered. However, time will tell how successful it is in the world of self-driving cars.

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