Xiaomi EV invests in automotive electronics supplier Atech

Beijing (Gasgoo)- Xiaomi-backed venture capital was recently added to auto parts supplier Atech Automotive (Wuhu) Co., Ltd.’s list of shareholders, according to corporate database Qichacha. 

Photo credit: Atech

Xiaomi’s sub-subsidiary, Hainan Jimu Venture Capital Co., Ltd., has invested in Atech’s Pre-A round of financing and became the latter’s fourth largest shareholder.

Public records showed that Atech is a joint venture company founded by Australia Atech Automobile Technology Co., Ltd. and Xinyuan Investment Management Co., Ltd., in 2003. The company’s businesses revolve around the design, R&D, manufacturing, and sales of various auto electronics, including domain controllers, software, key-less entry, ethernet gateways, millimeter-wave radars, Bluetooth radio frequency modules, intelligent truck integration, modules, 360° all-around vision systems, and new energy vehicle controllers.

The company’s smart ethernet gateway system and millimeter-wave radars were deployed to multiple vehicle models from various automakers.

Notably, another company in the automotive supply chain, Aolian Auto Electric (ALAE), recently expressed that it was in talks with Xiaomi EV without disclosing details.

ALAE is an automotive dynamic control components producer in China. Major automakers, including FAW Group, SAIC-GM, Beijing Hyundai, GAC Toyota, BYD, Geely Auto, Great Wall Motor, are all clients of the company.

As of now, ALAE is not yet a supplier of Xiaomi EV, the company added.