Xiaomi has invested in AI Micron, a Shanghai-based semiconductor company that focuses on designing microchips specifically for in-car video transmission. It’s the latest bet by the smartphone giant on the country’s smart electric vehicle sector. The five-year-old chip developer has raised its registered capital by 13.3% to RMB 1.84 million ($291,600), with Hubei Xiaomi Changjiang Industrial Investment Fund, an investment firm formed by Xiaomi, being added as a shareholder, according to corporate data site Tianyancha. AI Micron is also backed by state-owned automaker BAIC. [PE Daily, in Chinese]