I have fully exited Apple and have started accumulating Xiaomi during early April weakness. After only 4 quarters in operation, Xiaomi's EV business has exceeded my forecasts in volume and is growing rapidly. The segment is close to turning profitable on an operating level. Non-EV segments remain strong, with double-digit revenue growth and high-margin Internet Services, supporting Xiaomi's diversified business model and financial health.
Chinese smartphone maker Xiaomi has pulled off something Apple failed to do despite a decade-long attempt, and that's to make a car. Here's what helped Xiaomi overtake Apple's EV ambitions.
Xiaomi's Q1 2025 results shattered expectations, proving its evolution from a low-margin handset maker to a multi-industry growth engine with record revenue and margins. The integrated "Human x Car x Home" strategy is driving cross-category engagement, with smartphones, AIoT, and electric vehicles feeding into a sticky, monetizable ecosystem. Premium smartphone momentum, rapid IoT expansion, and a strong EV debut are fueling operating leverage, recurring revenue, and a robust balance sheet.
NEW YORK , June 30, 2025 /PRNewswire/ -- SunCar Technology Group Inc. (the "Company" or "SunCar") (NASDAQ: SDA), an innovative leader in cloud-based, software-focused B2B auto eInsurance and auto services in China, today announced the continued progression of the Xiaomi partnership. With the official launch of Xiaomi Auto's first pure electric SUV, the Xiaomi YU7 in April 2024, the two parties have been engaged in the field of intelligent vehicle insurance, creating a fully intelligent and digitized auto insurance service system for Xiaomi.
Xiaomi said it sold more than 200,000 YU7 cars within three minutes of its Beijing launch. The YU7, priced at $35,000, aims to compete with Tesla's Model Y in China.
Bill Russo, Founder and CEO of Automobility, shares his analysis of China's EV sector on Insight with Haslinda Amin. Russo speaks after Xiaomi Corp.'s shares rose 8% to a lifetime high in the wake of strong initial orders for its $35,000 sport utility vehicle, the YU7.
Hong Kong-listed shares of Xiaomi opened up 8% on Friday, after the launch of a new electric car model.
In the latest step in an intensifying price war, Chinese smartphone company Xiaomi revealed its luxury YU7 SUV will cost less than Tesla's Model Y. Xiaomi's luxury YU7 SUV will start at 253,500 yuan ($35,322), CEO Lei Jun announced Thursday, pointing out that is 10,000 yuan cheaper than Tesla's Model Y.
China's Xiaomi founder and CEO Lei Jun said on Tuesday that he expected the company's auto business to turn profitable in the second half the year, according to a company spokesperson.
Xiaomi rolled out its new sports utility vehicle in Beijing on Thursday, as the firm best known for smartphones and consumer electronics gears up to further challenge Tesla in the world's largest auto market.
Xiaomi shares jumped as much as 3.4% on Wednesday after it reported record first-quarter revenue and profit and said its shift towards higher-end products from smartphones to home appliances was already paying off.
Shares of China's Xiaomi were set to rise 2.3% on Wednesday after it reported a record first-quarter revenue and profit and said its shift towards higher-end products from smartphones to home appliances was already paying off.