Intel announced plans to invest USD60 million in Chinese drone company Yuneec and the two parties will jointly develop drone products.
The investment was reportedly realized via Intel Capital. Headquartered in Shanghai, Yuneec makes drones for consumers and industrial users, as well as manned electric aircraft.
Brian Krzanich, chief executive officer of Intel, said that Intel believes in a smart and connected world. One of the best ways to bring that smart and connected world to everyone and everywhere has been drones. They have got drones on their road map that are going to truly change the world and revolutionize the drone industry.
This is not the first time for Intel to invest in the drone industry. Prior to this, the company also invested in Airware and PrecisionHawk.