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Xiaomi backs company developing microchips for in-car video transmission

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]

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Chinese e-commerce SaaS platform Dianxiaomi secures $100 million Series C

Chinese e-commerce SaaS platform Dianxiaomi has secured $100 million in Series C, according to a 36Kr report. Tiger Global Management and China Renaissance’s Huaxing Growth Capital co-led the round with participation from returning investors GGV Capital, CDH Venture and Growth Capital, and Gaorong Capital. The proceeds will reportedly be used for recruiting talent, upgrading the service system, R&D, and globalization. The Shenzhen-based company provides enterprise resource planning software to Chinese cross-border sellers, helping them to track shipment orders and inventories and to manage customer relations and accounting. Founded in 2014, the company now provides services to 120,000 merchants around the world with its annual transaction volume hitting over 300 billion RMB ($48 billion), according to its official website. [36Kr, in Chinese]

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Xiaomi joins up with Shell to sell accessories in Indian fuel stations

Xiaomi India will partner with Shell to sell Xiaomi products at Shell gas stations, according to a release from Xiaomi India. The stations will sell Xiaomi accessories like smart bands, earbuds, and beard trimmers. Shell has more than 283 fuel stations in India. Xiaomi accounts for a 21% share of the Indian smartphone market, shipping 9.3 million units in Q4 2021, according to Canalys. [CRN India]

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India demands Xiaomi pay $88 million in import taxes

The finance ministry of India has demanded Xiaomi pay INR 6.53 ($88 million) in import taxes that the Chinese tech company allegedly owes. Xiaomi’s Indian arm has evaded customs duties by not adding some royalty and license fees into transaction values between Apr. 1, 2017 and Jun. 30, 2020, a statement from the Indian government claimed. The Beijing-based smartphone manufacturer said in a Wednesday response that it has yet to agree with the Indian authorities, adding that the issue is caused by a disagreement on the methodology used to determine the price for imported goods. [CNBC]

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Xiaomi-backed home appliance maker researching EVs

Smartmi, a Chinese home appliance manufacturer backed by smartphone maker Xiaomi, has formed a small group researching electric vehicles (EVs) and is in the early phase, according to Xiaomi’s spokesman Wang Hua’s Tuesday Weibo post. Wang was responding to Chinese media reports of Smartmi considering making EVs, to which Wang said Xiaomi wasn’t aware. Wang added that Xiaomi is not involved in Smartmi’s decision-making process. [Wang Hua’s Weibo, in Chinese]

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Xiaomi to set up electric car manufacturing plant in Beijing

Consumer electronics brand Xiaomi will set up an electric car manufacturing plant and establish its auto unit headquarters in the Beijing Economic and Technological Development Zone, according to a statement published by authorities in the capital on Saturday. The factory will have a production capacity of 300,000 vehicles with mass production scheduled for 2024, local authorities said. The Chinese smartphone giant has backed a slew of car-related startups this year as part of its RMB 10 billion ($1.52 billion) investment plan to build a complete auto supply chain. [Beijing E-Town statement, in Chinese]