(Yicai) March 12 -- Chinese consumer electronics and car manufacturer Xiaomi plans to almost double its investment in the research and development of core technologies over the next five years, founder Lei Jun is reported to have said at the Two Sessions, China's top annual policy-setting meetings.

Xiaomi’s R&D outlay on core technologies will rise to CNY200 billion (USD29 billion) through 2030, up from CNY105 billion in the past five years, China Securities Journal reported Lei as saying. He also sketched out new scenarios for the deeper convergence of artificial intelligence, robotics, autos, and smart manufacturing.

The auto industry is a century-old, mature sector, but China’s smart connected new energy vehicles are bringing fresh ideas to it, noted Lei, who is also Xiaomi’s chairman and chief executive.

“Xiaomi is fortunate to be part of this era,” he pointed out, adding that the Beijing-based company will continue to increase its investments in areas such as smart driving and auto chips as well as battery, drive, and control systems.

Lei also said that Xiaomi has been working on embodied intelligence since 2021, when the company released its first-generation quadruped robot. Its humanoid robots have been deployed in car factories, doing autonomous tasks such as fitting self-tapping nuts and moving parts boxes.

Xiaomi plans to further explore AI’s use in the field of smart manufacturing, according to Lei.

“AI will definitely bring many new opportunities, but it will also replace many jobs,” Lei predicted. “We all need to actively embrace the era of AI, which is not only used in personal devices, such as smartphones, smart cars, and wearables, but is also accelerating its entry into areas like smart homes and robotics.”

Lei advised tech entrepreneurs to act within their means and spend money wisely, focusing on key areas of innovation. “If you’re a startup, you can concentrate on a small field within a larger direction,” he said. "Over the years, a number of outstanding startups have emerged, such as Nio, Xpeng Motors, Li Auto, DeepSeek, and Unitree Robotics.” They have each found their own path, he noted.

Editor: Futura Costaglione