Chinese tech giant Xiaomi has announced plans to invest at least 50 billion yuan (approximately $6.93 billion) over the next ten years to advance its chip design capabilities, signaling a major push toward self-reliance in semiconductor technology.

The long-term investment was revealed by Xiaomi founder Lei Jun in a post on Chinese social media platform Weibo on Monday. A company spokesperson later confirmed to Reuters that the timeline for the investment will begin in 2025.

Lei also disclosed that Xiaomi has already poured 13.5 billion yuan into the development of its new advanced mobile chip, the XringO1. The project is part of the company’s broader efforts to compete in high-performance chip technology.

Xiaomi’s chip design division now employs more than 2,500 people, underscoring the scale of the company’s ambition in a sector critical to both its smartphone and electric vehicle businesses.

The announcement comes as Chinese tech companies face increasing pressure to develop domestic alternatives to foreign-made chips amid ongoing geopolitical tensions and supply chain uncertainties.