China's Xiaomi founder expects EV business to turn profitable in H2

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China's Xiaomi founder expects EV business to turn profitable in H2

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China's Xiaomi founder expects EV business to turn profitable in H2

//business-finance.news-articles.net/content/202 .. xpects-ev-business-to-turn-profitable-in-h2.html

Published in Business and Finance on Wednesday, June 18th 2025 at 11:20 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

Lei Jun, the founder of Chinese smartphone maker Xiaomi, announced that the company's first electric vehicle (EV), the SU7, is set to begin deliveries in late 2023, with expectations to become one of the top five global automakers within the next 15 to 20 years. Speaking at an event in Beijing, Lei highlighted Xiaomi's ambition to leverage its expertise in smartphones and smart home devices to create a connected ecosystem, positioning the SU7 as a competitor to Tesla's Model 3 and Model Y. He emphasized the company's significant investment of $10 billion over the next decade in the EV sector, underscoring Xiaomi's commitment to innovation and its goal to capture a significant share of the rapidly growing electric vehicle market.

Read the Full Reuters Article at:
[ https://www.aol.com/news/chinas-xiaomi-founder-expects-ev-073845821.html ]