Xiaomi Raises Target for Marquee EV in Signal of Confidence
- Company’s revenue rose for the third consecutive quarter
- Electric car SU7’s reception solid since March debut
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Xiaomi Corp. aims to deliver 120,000 of its SU7 electric-vehicles this year, hiking its target for a car it hopes can someday compete with Tesla Inc. and fuel its broader ambitions.
President Lu Weibing disclosed that latest goal after Xiaomi reported its fastest pace of quarterly revenue growth in more than two years, reflecting an improving smartphone market. Revenue rose a faster-than-expected 27% to 75.51 billion yuan ($10.4 billion) in the March quarter, about 2.7% above the average estimate.