Chinese Xiaomi’s tough goal: deliver 130,000 electric cars

Revenue rose 30 percent to 92.5 billion yuan, compared with the Bloomberg analyst consensus of 90.3.

Sales of smartphones alone were higher by 14 percent to 47.5 billion yuan, 46.6 expected.

Operating profit improved 21 percent to 6.0 billion yuan, expected 5.1.

Net profit was 5.4 billion yuan, up 9.8 percent and above the expected 4.7.

This year, Xiaomi has also taken up the competition in electric cars. At the end of March, the SU7 model was launched, and based on the report, it appears that the company delivered 39,790 units during the third quarter. This raises the figure to a total of 67,137 units as of September 30.

“We continued to increase production and achieved our goal of cumulative production of 100,000 vehicles by November 13, 2024. Our monthly shipments of the Xiaomi SU7 series exceeded 20,000 vehicles in October 2024. We will strive to achieve the new goal of deliver 130,000 vehicles in the Xiaomi SU7 series throughout the year 2024,” the company writes.