Xiaomi EV Business Nears Profitability

  Published 1 year ago

Xiaomi CEO Lei Jun projects profitability for the company's auto business in the second half of the year. Despite a recent 0.5 billion yuan loss, EV revenue reached 18.1 billion yuan, and the YU7 model will launch in July.

  • Xiaomi EV business aims for profit H2 2024.
  • Q1 loss: 0.5 billion yuan (≈$69.5M).
  • New EV model YU7, sales start July.

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