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Xiaomi’s EV Business Set to Turn Profitable Later This Year, CEO Reveals
- Xiaomi's electric vehicle division, led by founder and CEO Lei Jun, aims to achieve profitability during the latter half of 2025 following strong initial sales in China.
- Xiaomi launched its EV operations in 2021 and rolled out its first model, the SU7 sedan, in March 2024, with rapid expansion fueled by heavy investment and founder-led focus.
- During the initial three months of 2025, the Chinese electronics company delivered 75,869 electric vehicles, generating revenue of 18.1 billion yuan; however, the division continued to operate at a loss as its expenses exceeded the gross profit.
- Lei Jun attributed Xiaomi’s rapid EV progress to unified company commitment, respect for automotive fundamentals, and benchmarking top firms like Tesla and Porsche.
- Xiaomi’s EV growth signals increased competition in the global EV market, with deliveries on track for 350,000 units in 2025 and plans to expand overseas by 2027.
20 Articles
20 Articles
The Xiaomi SU7, the first electric car of the technological giant, continues to raze in China: the delivery time to receive it is already 350 days. Those who make their order now will have to wait 50 weeks. This is not only due to the very high demand, but also to the limited production capacity of the company. Although it has been a little more than a year for sale, Xiaomi SU7 accumulates more than 271,000 units sold, especially meritorious if …
Xiaomi CEO expects EV business to break even later this year · TechNode
Xiaomi chief executive Lei Jun expects the company’s electric vehicle business to break even during the third or fourth quarter of this year as its sales continue to grow and its losses narrow, Chinese media outlet The Paper reported on Tuesday. Lei’s comments came after Xiaomi last week reported a gross margin of 23.2% for its smart EVs, AI, and other new businesses in the January-March quarter, with the unit’s operating loss narrowing quarter-…
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