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[Xiaomi announced that R & D investment will exceed 100 billion yuan in the next five years] Lei Jun, founder, chairman and CEO of Xiaomi Group, said at the 2024 Zhongguancun (000931) Forum Annual Meeting on the morning of April 25crashbandicootcollection, the company in the next 5 yearscrashbandicootcollectionR & D investment in China is expected to exceed 100 billion yuan.

Lei Jun also mentioned the development prospects of smart electric vehicles. He believes that the first half of the industry will be electrified, while the second half will be dominated by intelligence. Intelligence is the soul of cars. Lei Jun revealed that Xiaomi's R & D expenditure in 2017 was 3.2 billion yuan, which soared to 19.1 billion yuan last year, and it is expected that R & D funds will reach 24 billion yuan in the following year.