Xiaomi Plans $28 Billion Core Tech R&D, Unveils First SUV

Xiaomi has announced a major investment of approximately $27.8 billion (200 billion yuan) in core technology research and development over the next five years, aiming to enhance its capabilities in semiconductors, electric vehicles, and other advanced technologies. This commitment includes the continued development of its in-house mobile chip project, Xring, which has already produced the Xring O1 chip built on 3-nanometer technology, poised to compete with industry leaders like Qualcomm and Apple. The company unveiled its first electric SUV, the YU7, featuring innovative heads-up display technology and a powerful 690-horsepower engine, with market release expected in July. Xiaomi's CEO Lei Jun emphasized the critical importance of mastering chip technology for the company's ambition to become a world-class technology firm, highlighting the company's steady global smartphone market position and significant automotive sales milestones. These efforts reflect Xiaomi's strategic push to reduce reliance on third-party suppliers and position itself alongside other tech giants capable of designing proprietary chips and vehicles. The investment aligns with broader industry trends of innovation and sustainability, targeting growth in electric vehicles and advanced mobile technologies.