Xiaomi’s $6.93 Billion Bet on Chipmaking
Chinese smartphone and electric vehicle manufacturer Xiaomi Corporation has announced plans to invest at least 50 billion yuan (approximately $6.93 billion USD) in chip design over the next 10 years, according to a report by Reuters.
The company’s founder, Lei Jun, revealed the plan in a recent post on the social media platform Weibo.
In a statement to Reuters, a Xiaomi spokesperson confirmed that the investment will begin in 2025.
Lei Jun also stated that Xiaomi has already developed its own advanced mobile chip, the "Surging T1" (Xring01), with an investment of 13.5 billion yuan.
Currently, over 2,500 engineers are employed in Xiaomi’s chip design division. This initiative is part of Xiaomi’s long-term strategy to contribute to China’s push for technological self-reliance.
