On August 10, Ningbo GiantOhm Micro Electronics Technology Co., Ltd. made a registration of change with China’s Industrial and Commercial Administration, adding as a shareholder Beijing Xiaomi Zhizao Equity Investment Fund Partnership (Limited Partnership), a company associated with Xiaomi Group. At present, Xiaomi holds 6.1947% of GiantOhm’s shares.
GiantOhm is an automobile resistor manufacturer, established in 2021 with a registered capital of 113 million yuan ($16.7 million). The firm is committed to the research and development, production, sales and service of various resistors. Its core members have more than 15 years of experience in resistor production, management and sales. Its main products include thick film wafer resistors, thin film wafer resistors, arrangement resistors, car gauge resistors and alloy resistors.
Xiaomi Zhizao was established on September 18, 2021, and its executive partner is Beijing Xiaomi Enterprise Management Co., Ltd. Its business covers equity investment, venture capital, and more. It has invested in AIC Semiconductor (Shanghai) Co., Ltd., HyAsic Semiconductor (Shenzhen) Co., Ltd., Shanghai JHETECH Co., Ltd., and other firms.
At an annual speech held on August 11, Lei Jun, the founder and CEO of Xiaomi, announced the latest progress of the firm’s car manufacturing plans. Lei said that the first phase of Xiaomi‘s self-driving R&D involves investment of 3.3 billion yuan, and they plan to enter the first group of new car-making forces in 2024.
Xiaomi has made a series of moves, including self-research and acquisition, to sweep industry chain companies and realize its car-making ambitions. As of August 14, the Xiaomi family has made more than 30 moves in the field of smart cars, involving chips, LiDAR, autonomous driving, batteries, and other fields.