Xiaomi Billionaire Again Hikes EV Goals in Show of Confidence
- It’s now aiming to ship 130,000 EVs in 2024, up from 120,000
- Lei Jun unveiled the target just hours before Xiaomi reports
An advertisement for Xiaomi Corp.'s SU7 EV outside one of the company's stores in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Xiaomi Corp. is now aiming to deliver 130,000 electric vehicles in 2024, raising its target by more than 8% in a show of confidence in the fledgling business.
Billionaire co-founder Lei Jun unveiled that latest objective, up from a previously targeted 120,000, on social media just hours before the Chinese company was slated to report quarterly earnings. That underscores the entrepreneur’s desire to take Xiaomi — best known for affordable gadgets and devices — deeper into a market crowded with deep-pocketed players like Tesla Inc. and BYD Co.