Reported 1 day ago
Xiaomi Corp. has raised its 2025 electric vehicle delivery target to 350,000 units after experiencing its fastest revenue growth since 2021, largely due to its expanding presence in the Chinese EV market. Following the successful introduction of its SU7 sedans in 2024, the company reported a 49% increase in sales, reaching 109.01 billion yuan ($15.1 billion) in the December quarter. However, Xiaomi faces challenges in manufacturing capacity, prompting longer wait times for customers, as it works to accelerate production at its Beijing factory. The company's shares have surged 400% over the past year, reflecting strong investor interest in its EV ambitions.
Source: YAHOO