Xiaomi revenue soars in Sept qtr as EVs gain steam
Business Standard|November 19, 2024
Chinese electronics maker Xiaomi Corp posted a 30.5 per cent jump in third-quarter revenue as consumers clamoured for its first electric vehicle, the SU7 sedan.

Xiaomi launched the car, which draws styling cues from Porsche, in March, entering a crowded China EV market with an attentiongrabbing price tag - under $30,000 for the base model, $4,000 cheaper than the base model of Tesla's Model 3 in China.

It raised its sales target on Monday and is now aiming for sales of 130,000 this year, far more than an initial goal of 76,000. To keep up with demand, Xiaomi has doubled production shifts since June and launched the premium SU7 Ultra model priced at more than $110,000.

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Denne historien er fra November 19, 2024-utgaven av Business Standard.

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