A Xiaomi affiliate company recently invested in a Chinese auto chipmaker called Hefei Huixi Intelligent Technology (our translation), Chinese media outlet ITHome reported on Tuesday. After the investment, the affiliate, Hanxing Venture Capital, accounted for 4.7% of the firm’s shares, valued at RMB 916,672 ($131,234). Founded in April 2022, Hefei Huixi Intelligent Technology focuses on autonomous driving chips with high computing capacity. The firm’s co-founder, Zhang Jianyong, was formerly vice president of the autonomous driving unit at Chinese EV upstart Nio. Xiaomi has invested billions into making its own EVs and expects to begin mass production in the first half of 2024. [ITHome, in Chinese]