04 June 2025 1 Min Read

Xiaomi CEO expects EV business to turn profitable in second half of 2025

in Motoring / news by Reuters
Lei Jun, founder and CEO of Xiaomi.
Image: Li Yueran/Anadolu via Getty Images
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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.

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