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Xiaomi Eyeing Electric Car Market, Could Join $231 Million Investment Round on AI Driving Chipmaker

Xiaomi Eyeing Electric Car Market, Could Join $231 Million Investment Round on AI Driving Chipmaker Xiaomi is reportedly mulling over joining an investment round for Black Sesame, a company specializing in AI chips and systems for self-driving electric cars. Photo : David Ramos/Getty Image Xiaomi, the world s third-largest smartphone manufacturer in Q1 2021, has set its eyes on entering the electric car market. With that, the Chinese smartphone giant is looking to invest in the technologies required to run electric vehicles. In line with that business strategy, Xiaomi is allegedly mulling over participating in a $231 million investment round for Black Sesame Technologies, Inc., according to anonymous sources, Bloomberg reports.

Electric Vehicles Market Business Opportunity 2020: Global Industry Size, Key Players Analysis Report and Forecast By 2025

Electric Vehicles Market Business Opportunity 2020: Global Industry Size, Key Players Analysis Report and Forecast By 2025
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Electric Vehicles Market Business Opportunity 2020: Global Industry Size, Key Players Analysis Report and Forecast By 2025 – Business

As per the latest report by IMARC Group, titled : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global electric vehicles market size reached 3.3 Million Units in 2019. An electric vehicle (EV) is a relatively new technology in the automotive industry that is rapidly gaining traction across the globe. They operate using an electric motor instead of an internal-combustion engine, which produces power by burning a mix of fuel and gases. As a result, they offer a number of benefits, which include energy-efficiency, easy maintenance and generating less greenhouse gases (GHGs). Owing to the rising pollution levels, increasing concerns about climate change and depleting natural resources, they are replacing conventional automobiles across the world.

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