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Gree To Invest $517 Million In Xiaomi Industry Fund

Xiaomi Investment Gree

On the evening of September 3, Gree Group announced on its official WeChat account that the company has signed a strategic cooperation agreement with Xiaomi and China CITIC Bank. Gree will invest 3.545 billion yuan ($517 million) in the investment and management of the Xiaomi Industry Fund initiated by Xiaomi Group. It is reported that the cooperation revolves around industrial funds, financial services, industrial investment, project cooperation, resource sharing, etc. The areas cover integrated circuits, artificial intelligence, industrial Internet, core equipment, and cutting-edge technologies.

Gree stated that Gree will deeply connect and introduce Xiaomi’s ecological chain enterprises. At the meeting, Xiaomi Group President Wang Xiang said that Xiaomi will speed up the advancement of relevant cooperation matters as soon as possible, and strive to achieve early results in the strategic cooperation between the two parties.

Gree and Xiaomi have always been hot topics discussed by reporters, and even because Lei Jun and Dong Mingzhu made public bets on CCTV programs that year, it was good news for a while. Although Gree still leads Xiaomi in revenue in 2018, the latter won in 2019. Achieved a go-ahead. There has never been a real enemy in business, Gree and Xiaomi have finally embarked on a road of win-win cooperation.