Xiaomi’s Electric Vehicle Ambitions Gain Momentum with Record Deliveries

Xiaomi is making waves in the automotive sector with its rapidly expanding electric vehicle operations, demonstrating significant progress beyond its core smartphone business. The Chinese technology company achieved a milestone in September by delivering more than 40,000 electric vehicles, setting a new monthly record that has captured market attention.

The September delivery figures propelled Xiaomi’s third-quarter EV shipments beyond the 100,000-unit threshold. This achievement is particularly notable given that the company only entered the electric vehicle market in spring 2024. The accelerated growth trajectory suggests Xiaomi could potentially emerge as a credible competitor to established players like Tesla and BYD in the Chinese EV landscape.

Market analysts have taken notice of this rapid progress. JPMorgan responded to the stronger-than-anticipated delivery numbers... Read more...