China’s air conditioning giant, Midea, has begun producing autonomous driving systems for automobiles in addition to heat transmission systems, reported Caixin.
Due to slow growth in the home appliance industry, many nonautomotive companies are joining the new-energy vehicle market and trying to get rid of their “home appliance” label after facing pressure in the capital markets.
Although previous trends for Midea suggest air conditioning sales should be picking up during this time of year, sales have slowed. The company’s main air conditioning unit declined in sales by 5.8% from 2019 in the first quarter. Midea hopes to apply its experience from making home appliance to automobile production.