For the second time in three months, Chinese tech company Xiaomi has invested in a self-driving vehicle company.
Founded in 2018, Geometrical Partner has attracted a $62 million investment fund belonging to Xiaomi, Matrix Partners China, and Baidu Ventures. The company specializes in autonomous driving solutions that can achieve up to level four in the SAE International classification. At that level, drivers can basically put their minds off driving, as the autonomous car can handle most driving tasks safely.
To achieve this feat, Geometrical Partner has a hardware and software system that involves a four-dimensional millimeter wave imaging radar. The company is reaching out to automakers and sell its proprietary system, with commercial operation estimated to be around 2023.
With this investment, it’s clear Xiaomi sees the huge potential of the electric car business. Back in March, the company announced that it would be putting $10 billion on a new subsidiary that would focus on smart vehicles.