China's Xiaomi founder and CEO Lei Jun said on Tuesday he expects the company's car business to turn profitable in the second half of the year, according to a company spokesperson.
Xiaomi's loss from its smart electric vehicles, AI and other new projects amounted to 500-million yuan (R1.24bn) in the quarter ended March 31, with its EV business revenue reaching 18.1-billion yuan (R44.96bn) over the same period.
Xiaomi will start selling its second EV model YU7 in July.
Xiaomi CEO expects EV business to turn profitable in second half of 2025
Image: Li Yueran/Anadolu via Getty Images
China's Xiaomi founder and CEO Lei Jun said on Tuesday he expects the company's car business to turn profitable in the second half of the year, according to a company spokesperson.
Xiaomi's loss from its smart electric vehicles, AI and other new projects amounted to 500-million yuan (R1.24bn) in the quarter ended March 31, with its EV business revenue reaching 18.1-billion yuan (R44.96bn) over the same period.
Xiaomi will start selling its second EV model YU7 in July.
READ MORE:
Automotive angst as China’s critical minerals export curbs take hold
VW's Wolfsburg plant may move to four-day week from 2027
May figures: the best-selling cars in SA
Xiaomi rides high with record Q1 and new electric SUV to rival Tesla
Xiaomi founder expects new electric SUV to hit market in July
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos