(Yicai) March 20 -- Xiaomi plans to spend more than CNY60 billion (USD8.7 billion) on artificial intelligence over the coming three years, according to the chief executive of the Chinese consumer electronics giant.

Xiaomi MiClaw, the Beijing-based company’s first smartphone AI agent, has started closed beta tests, Lei Jun, who is also founder and chairman, said at a press conference yesterday. The tool is equipped with Xiaomi’s MiMo large models and deeply integrated with its operating system and people-car-home smart ecosystem, he added.

Xiaomi unveiled three MiMo large models yesterday: the flagship base model MiMo-V2-Pro, the full-modal agent model MiMo-V2-Omni, and the text-to-audio model MiMo-V2-TTS. The MiMo-V2-Pro is a trillion-parameter model that supports a million-level context window. Its early internal test version, known as Hunter Alpha, sparking heated discussions on OpenRouter, an application programming interface platform.

"Xiaomi will likely make breakthroughs in technological innovation this year," Lei noted earlier this month, adding that it has a good shot at achieving a grand convergence of self-developed chips, OS, and AI models on one product device this year.

The company’s push into AI has accelerated over the past 12 to 18 months, shifting from a focus on Internet of Things integration to a central pillar of its business strategy, spanning foundation models, devices, and long-term R&D investment.

Lei said Xiaomi will go on investing more in researching and developing core technologies and aims to spend CNY200 billion (USD30 billion) over the next five years, focusing on chips, AI, and OS to sustain its long-term competitiveness in high-end, smart, and green development.

Xiaomi’s shares [HKG: 1810] finished 8.6 percent lower at HKD33.20 (USD4.24) apiece in Hong Kong today amid a wider market decline.

The company, which has been mass producing electric vehicles since late 2023, also launched its second-generation SU7 yesterday. Priced at CNY219,900 (USD31,870) for the standard model, CNY249,900 for the Pro, and CNY303,900 for the Max, each version is CNY4,000 (USD580) cheaper than the first-gen model.

Xiaomi has sold 381,000 first-gen SU7s, with 258,164 sold last year, becoming the only sedan priced at more than CNY200,000 to outsell Tesla's Model 3, according to Lei.

Editor: Martin Kadiev