Xiaomi Raises EV Targets After Sales Grow Fastest Since 2021
Xiaomi’s shares have quadrupled over the past year.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Xiaomi Corp. hiked its 2025 delivery target for electric vehicles to 350,000 units after posting its fastest revenue growth since 2021, reflecting inroads into the Chinese EV market.
The Beijing-based company, which delivered its first SU7 sedans in April 2024, has made progress in expanding its EV production capacity, billionaire co-founder Lei Jun said in a Weibo post on Tuesday. It later reported a better-than-projected 49% rise in sales to 109 billion yuan ($15.1 billion) for the December quarter.