- Xiaomi will invest $27.8 billion over the next five years to boost research and development in core technologies like AI, chips, and automotive tech.
- The move aims to strengthen Xiaomi’s global competitiveness and support innovation across its expanding product portfolio.
What happened: Xiaomi to invest $27.8 billion in core technology R&D over next five years
Xiaomi‘s founder and CEO, Lei Jun, announced that the company will invest 200 billion yuan (approximately $27.8 billion) in core technology research and development over the next five years. This announcement coincided with the launch of Xiaomi’s first electric SUV and its advanced mobile chip, Xring O1, highlighting the company’s commitment to expanding its technological portfolio.
The investment is part of Xiaomi’s strategy to enhance its capabilities in areas such as artificial intelligence, semiconductors, and automotive technology. By focusing on these core technologies, Xiaomi aims to strengthen its position in the global tech industry and drive innovation across its product lines.
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Why it’s important
This substantial investment underscores Xiaomi’s dedication to advancing its technological expertise and diversifying its product offerings. By prioritising research and development in key areas, Xiaomi seeks to foster innovation and maintain competitiveness in an increasingly dynamic market. The company’s focus on core technologies is expected to yield long-term benefits, including the development of cutting-edge products and the establishment of a stronger presence in emerging tech sectors.
