Reported 5 months ago
Xiaomi Corp. has raised its target to deliver 120,000 SU7 electric-vehicles this year, showing confidence in the car's potential to compete with Tesla Inc. and drive the company's broader ambitions. Xiaomi's aim to expand in the crowded electric car market comes after reporting strong quarterly revenue growth, with revenue rising 27% to 75.51 billion yuan in the March quarter. The company's increased target indicates optimism in its ability to make progress in the EV sector, with plans to ship 10,000 SU7s in June and a loftier goal of 120,000 units annually. Xiaomi also aims to launch a sport utility vehicle similar to Tesla's Model Y by 2025.
Source: YAHOO