Xiaomi Billionaire Touts SUV, Chinese Chip in Tech Showcase

Xiaomi Corp.’s billionaire founder outlined plans for its first SUV and top-end gadgets with self-developed mobile chips, showcasing ambitions to expand its technology portfolio and move past a much-publicized accident that cast doubt on its expertise.

Lei Jun, who shot to fame with bold plans to unseat Apple Inc. in China, gave online viewers a sneak peek at an electric sport utility vehicle — the YU7 — in a livestreamed event from Beijing. The 5-meter long vehicle’s top model can go 760 kilometers on a single charge and hit 100 km/h in 3.23 seconds, faster than Tesla Inc.’s Model Y or a comparable Porsche, Lei claimed. Apart from cars, the chief executive also showed off the Xring O1 chip, designed to power a new generation of devices including the Tablet 7 Ultra. At 3nm, that processor is aimed at matching Apple and Qualcomm Inc. chips.