Xiaomi raises 2025 EV delivery target to 350,000 units

Xiaomi has raised its electric vehicle (EV) delivery target for 2025 to 350,000 units, a 16% increase, following strong demand and financial results that exceeded analyst expectations. The company reported a nearly 50% jump in fourth-quarter revenue, driven by the sales of its SU7 sedan, with net profit soaring 41% year-on-year. Xiaomi's CEO Lei Jun highlighted the company's efforts to ramp up production capacity at its Beijing facility, which began operations in March 2024, with the aim of reducing customer wait times. The company plans to expand its store network and aims to start shipping cars internationally by 2027. Despite being a newcomer in the EV market, Xiaomi's stock has surged significantly over the past year, reflecting investor optimism about its potential in the automotive sector. Currently, the SU7 remains in high demand, with some variants sold out for 2025, leading to extended wait times for customers.