Xiaomi Raises EV Targets After Sales Grow Fastest Since 2021

Bloomberg

03-19

(Bloomberg) -- 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. ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXiaomi Raises EV Targets After Sales Grow Fastest Since 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-03-19 10:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/xiaomi-raises-ev-targets-sales-020211824.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- 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.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/xiaomi-raises-ev-targets-sales-020211824.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HXXD.SI","symbol_name":"Xiaomi HK SDR 2to1","start_time":0,"source_url":"https://finance.yahoo.com/news/xiaomi-raises-ev-targets-sales-020211824.html","article_id":"2520709995","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance_sg","url":"https://finance.yahoo.com/news/xiaomi-raises-ev-targets-sales-020211824.html","rn_cache_url":null,"customStyle":"","selectors":"article, body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2520709995","pubTimestamp":1742349731,"columns":[],"sourceInfo":{"source_id":"yahoofinance_sg","name":"Yahoo Finance"},"weMediaInfo":null,"summary":" -- 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.How Britain’s Most Bike-Friendly New Town Got Built. Washington, DC, Region Braces for ‘Devastating’ Cuts from Congress. NYC Plans for Flood Protection Without Federal Funds. A Malibu Model for Residents on the Fire Frontlines. Even as Xiaomi diversifies beyond consumer electronics, it’s trying to defend its position against Apple and Huawei Technologies Co. in a stabilizing global market. Xiaomi’s handset shipments last quarter increased 4.8%, according to industry consultancy IDC, as a market recovery continues and the Chinese brand took share from Apple and Samsung.“This past quarter was particularly remarkable for the largest Chinese smartphone vendors,” said Francisco Jeronimo, vice president for EMEA client devices at IDC. “They achieved a historic milestone as they shipped the highest combined vo","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"HXXD.SI":"Xiaomi HK SDR 2to1"},"translate_title":"小米在2021年以来销量增长最快后提高电动汽车目标","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HXXD.SI":0.9},"content_text":"(Bloomberg) -- 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.\nMost Read from Bloomberg\n\nHow Britain’s Most Bike-Friendly New Town Got Built\nThe Dark Prophet of Car-Clogged Cities\nWashington, DC, Region Braces for ‘Devastating’ Cuts from Congress\nNYC Plans for Flood Protection Without Federal Funds\nA Malibu Model for Residents on the Fire Frontlines\n\nThe 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.\nXiaomi shares slipped in early Wednesday trading, reflecting the heightened expectations that made the company one of China’s most expensively valued tech stocks.\nIt remains a fledgling player in car manufacturing and is grappling with limited capacity, which has stretched wait times for customers. The company has promised to boost production for quicker delivery as it builds out the second phase of its car factory in Beijing. Lei didn’t disclose further details about the production capacity on Tuesday.\n“That’s a huge back log for us that we need to deliver,” Chief Financial Officer Alain Lam told Bloomberg Television on Wednesday. “We need to continue to expand our production capabilities by adding new production sites. That’s something we’re working hard on right now.”\nXiaomi Sales Beat as EV Success Strengthens Brand: Street Wrap\nThe company’s shares surged after its successful initial foray into EVs, an arena dominated by far larger competitors Tesla Inc. and BYD Co. Lei previously set a target to deliver 300,000 cars this year, aiming to grow Xiaomi beyond its traditional business of mobile phones and home connected devices.\nThat year-long rally means Xiaomi’s stock is more expensive than larger Chinese internet rivals such as Alibaba Group Holding Ltd. or Tencent Holdings Ltd., and sets a high bar to clear this year. \nAn upcoming SUV model will launch in summer to compete with Tesla’s Model Y, testing customer appetite. Longer-term, it also plans to take its cars overseas in 2027, President Lu Weibing told media in March. \nEven as Xiaomi diversifies beyond consumer electronics, it’s trying to defend its position against Apple and Huawei Technologies Co. in a stabilizing global market. Xiaomi’s handset shipments last quarter increased 4.8%, according to industry consultancy IDC, as a market recovery continues and the Chinese brand took share from Apple and Samsung. \n“This past quarter was particularly remarkable for the largest Chinese smartphone vendors,” said Francisco Jeronimo, vice president for EMEA client devices at IDC. “They achieved a historic milestone as they shipped the highest combined volume ever in a quarter, representing 56% of the global smartphone shipments.” \n--With assistance from Annabelle Droulers, Mark Anderson and Claire Che.\n(Updates with shares, CFO’s comments from the third paragraph.)\nMost Read from Bloomberg Businessweek\n\nTesla’s Gamble on MAGA Customers Won’t Work\nThe Real Reason Trump Is Pushing ‘Buy American’\nThe Future of Higher Ed Is in Austin\nSnap CEO Evan Spiegel Bets Meta Can’t Copy High-Tech Glasses\nA US Drone Maker Tries to Take Back the Country’s Skies\n\n©2025 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}