Xiaomi, top Chinese company in technology, has introduced a new processor and an electric SUV in an effort to compete with Apple and Tesla.
In an effort to broaden its scope beyond its origins in budget devices, Xiaomi, a Chinese consumer electronics company, has introduced a new electric SUV and a self-designed smartphone processor.
At a livestreamed event in Beijing on Thursday, Xiaomi’s CEO and founder, Lei Jun, unveiled the YU7, the company’s inaugural SUV, and the Xring O1, a 3-nanometer mobile processor designed to compete with those that power Apple and Qualcomm’s elite smartphones.
The launch event, which also featured the introduction of additional products such as a tablet, occurred in conjunction with Xiaomi’s 15th anniversary and marked a significant shift in its brand identity.
The event also follows a highly publicized fatal car accident in eastern China in late March, which cast a shadow over its electric vehicle (EV) ambitions.
Beijing’s overarching objective to eliminate its dependence on critical foreign technology is also exemplified by Xiaomi’s multifaceted expansion into semiconductors and automobiles.
The YU7 SUV, which is scheduled to be released in July, will provide a driving range of up to 835 kilometers (518 miles) on a single charge.
Lei claims that the top model of the vehicle will be capable of accelerating from zero to 100 kilometers per hour (62 miles per hour) in just over three seconds.
This performance benchmark surpasses that of Tesla’s Model Y and Porsche’s comparable models.
Advanced driving assistance software will be included with the standard models.
During the launch, no pre-order timeline or pricing information was disclosed.
Lei had previously stated in a social media post recently that Xiaomi is currently refraining from disclosing pricing and accepting pre-orders.
In recent months, Xiaomi’s automotive business has been the subject of intense scrutiny following the fatal highway accident in March involving the SU7 sedan, the company’s inaugural electric vehicle.
The accident resulted in the deaths of three individuals. Xiaomi’s marketing of its self-driving technology was called into doubt by the accident, which resulted in a transient decrease in orders the following month.
Xiaomi to Invest in New Chips as Key Priority
Additionally, semiconductors have been designated as a strategic priority by Lei.
He disclosed that the organization allocated 13.5 billion yuan ($1.87 billion) to the development of the Xring O1.
Xiaomi, like Apple and Nvidia, exclusively designs processors and contracts the production of circuits to Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chipmaker.
Lei asserted that the Xring O1 processor outperformed the A18 Pro CPU in Apple’s most recent iPhones in a variety of metrics, such as operating at a lower temperature than its competitors during intense gaming.
Xiaomi’s newest smartphone, the 15S Pro, is priced at 5,499 yuan ($764) and will feature the processor.
The development of three-nanometer processors by Xiaomi places it ahead of Huawei, another Chinese technology behemoth, which is currently experiencing difficulty in producing semiconductors that exceed seven nanometers as a result of American sanctions.
Huawei is prohibited from collaborating with TSMC, in contrast to Xiaomi.
The processors are more potent and efficient due to the more advanced and sophisticated manufacturing technology, which is indicated by the smaller nanometers.
In a social media post earlier this week, CCTV, the state-run broadcaster in China, referred to Xiaomi’s new processor as a “breakthrough.”
Xiaomi is currently utilizing Qualcomm and MediaTek processors in some of its devices.
However, the company is attempting to mitigate this dependence and replicate Apple’s vertically integrated hardware and software strategy by developing its own chips.
In addition to smartphones, the Xring processor will be utilized to power other flagship products, including tablets.
Xiaomi has been in the process of developing its own processors for several years.
Lei disclosed on Monday that Xiaomi initiated its own semiconductor development in 2014, which was more than a decade ago.
He stated at the launch event that the company had allocated 13.5 billion yuan ($1.87 billion) to semiconductor development as of April of this year.
“We are compelled to engage in the chip battle,” he stated.
In the same post, Lei announced that Xiaomi will allocate a minimum of 50 billion yuan ($7 billion) in investment over the next decade to enhance its chip technology.
With its 2,500-member research and development team, he declared a minimum investment of 6 billion yuan ($833 million) in semiconductor development this year.
