By Greg Gao

Chinese smartphone titan Xiaomi recently invested in autonomous driving chip startup Hefei RHINO Technology(合肥辉羲智能科技) through one of its VC subsidiaries, reported JW Insights on December 6.

Tianyancha, provider of Chinese corporation data and due diligence platform, showed that changes in RHINO’s information with Hanxing Venture Capital (瀚星创业投资) related to Miaomi as shareholders.

Established in April 2022 and based in Hefei, eastern China’s Anhui Province, RHINO is a developer of high-performance computing chips for autonomous driving. Its products include computing platforms, autonomous driving software solutions, and development tool chains, according to another business data platform Qichacha.

This move indicates Xiaomi’s continued expansion to the supply chain in autonomous driving electric vehicles. Xiaomi revealed its ambition of building electric vehicles in March 2021. It has made several acquisitions and strategic investments in upstream and downstream enterprises to facilitate its mid-to-long-term growth in the field.

Recently, Xiaomi invested in Alpha Power Solutions(飞锃半导体), a leading SiC products manufacturer based in Shanghai, and became a shareholder. The company’s registered capital has increased from approximately $3.265 million to $4.08 million, an increase of about 25%. Alpha Power provides a broad portfolio of SiC devices, which have become increasingly vital components in EVs as they could offer greater vehicle range due to more efficient conduction and switching losses. 

In addition, Xiaomi also participated in the C-round financing of Atech Automotive Electronics(埃泰克汽车电子) in November, which raised RMB500 million($71 million), JW Insights learned.