Xiaomi has announced a major expansion in its technology portfolio, unveiling the XRING 01, its first in-house 3nm chipset designed to compete with Qualcomm's Snapdragon 8 Elite. This new processor will debut in the Xiaomi 15s Pro smartphone and the Xiaomi Pad 7 Ultra tablet, which features a 14-inch OLED display. Alongside this, Xiaomi launched its first electric SUV, the YU7, which boasts an 835-kilometer range and 690 horsepower. The YU7 is positioned as a direct competitor to Tesla's Model Y, aiming to capture the top-selling electric SUV spot in China with a planned launch in July. Industry reviews highlight the YU7's superior interior space, range, and technology compared to the Model Y, though pricing has not yet been announced. In a broader strategic move, Xiaomi committed nearly $28 billion (200 billion yuan) over the next five years to core technology research and development, signaling an aggressive push into the electric vehicle and semiconductor markets. This investment aligns with Xiaomi's 15th anniversary and underscores its ambition to rival established players like Tesla and Apple.