China's Xiaomi to invest almost $28 billion in core technology R&D over next five years
Synopsis
Xiaomi plans to invest 200 billion yuan ($27.8 billion) in core tech R&D over five years, CEO Lei Jun announced in Beijing. The move coincides with the launch of Xiaomi's first electric SUV and its advanced mobile chip, Xring O1, marking a major push into automotive and chip technology.
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