Corrects attribution of investment timeline to company representative, not Xiaomi founder, and corrects timeline to show investment is from 2025, not 2021
BEIJING, May 19 (Reuters) - Chinese smartphone and electric vehicle maker Xiaomi 1810.HK 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)
(Reporting by Beijing Newsroom; Editing by Christopher Cushing)
((Xiuhao.Chen@thomsonreuters.com;))
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