Chinese smartphone and electric vehicle maker Xiaomi said on Monday it plans to invest at least 50 billion yuan ($6.93 billion) in chip design over at least 10 years.
The investment sum was flagged by Xiaomi‘s founder Lei Jun, in a post on social media platform Weibo. A Xiaomi representative told Reuters the 50 billion yuan investment timeline starts from 2025.
Xiaomi has invested 13.5 billion yuan to self-develop its advanced mobile chip XringO1, Lei said in the post, adding that the company’s chip design unit employs more than 2,500 people.
($1 = 7.2151 Chinese yuan renminbi)
Reuters
