Reported 2 days ago
Xiaomi's founder and CEO, Lei Jun, announced that the company expects its electric vehicle (EV) division to become profitable in the latter half of the year. Despite a loss of 0.5 billion yuan ($69.5 million) in the first quarter due to investments in smart EVs and AI projects, Xiaomi reported revenue of 18.1 billion yuan from its EV business during the same period. The company plans to launch its second EV model, YU7, in July.
Source: YAHOO