Summary
- Xiaomi has entered the electric vehicle market with a strong brand presence
- The company made $1.34 billion in revenue last quarter from smart EV and other new initiatives
- Xiaomi’s first electric car starts at 27,600 euros and has been performing well in sales
- Xiaomi’s EV revenue has surpassed internet services and accounts for over 20% of smartphone revenue
- Xiaomi is producing electric vehicles at a rapid pace and has introduced high-performance variants to compete in the market
Article
Xiaomi, known for its smartphones, has entered the electric vehicle market with great success. The company made $1.34 billion in revenue last quarter on its smart EV and other new initiatives, showing a significant increase quarter over quarter. Xiaomi’s first electric car starts at 27,600 euros and has become a popular choice among customers in China. The company delivered almost 40,000 electric vehicles last quarter and has established 138 sales centers across 38 cities.
The revenue from Xiaomi’s EVs has surpassed its internet services and accounts for over 20% of its smartphone revenue. The company claims to be the fastest new auto OEM to produce 100,000 vehicles, achieving this milestone in just 230 days. Xiaomi was an early investor in Xpeng and has been eyeing the industry for some time, learning from other successful EV companies. The company’s new variant, the SU7 Ultra Max, boasts impressive features such as a tri-motor configuration, track-optimized battery pack, and top-level braking system.
Xiaomi’s SU7 Ultra is designed to be the fastest four-door mass-produced car, with the ability to accelerate from 0-100km/h in just under 2 seconds and reach a maximum speed of 350km/h. The car also features a track-optimized cooling system, top-level braking system, and peak chassis system tuned for track performance. Xiaomi’s entry into the EV market has established it as a company to watch, with potential for global expansion following the lead of other successful Chinese EV manufacturers.
To support clean tech coverage and accelerate the cleantech revolution, readers can chip in a few dollars a month to help fund independent reporting. CleanTechnica offers affiliate links and a comment policy to engage with readers and advertisers. The company encourages tips, advertising inquiries, and guest suggestions for its CleanTech Talk podcast. By signing up for daily or weekly newsletters, readers can stay informed about the latest cleantech stories. CleanTechnica highlights the importance of companies like Xiaomi in the evolving electric vehicle market.
Read the full article here
