Xiaomi EV

Main article: Xiaomi

History

2025

Xiaomi earns quarterly profit from its electric vehicle business for the first time

Profit in Q3 2025 was RMB700 million against a loss in the previous quarter. This helped the company exceed its forecast for total profit, which was 12.3 billion yuan.

Despite the success in the cars, Xiaomi shares fell about 20% due to competition with Apple and delays in the supply of electric vehicles.

Xiaomi sells up to 40,000 electric vehicles a month, but due to high demand, the wait for some models reaches nine months.

The company expects to launch 350,000 vehicles in 2025 and enter foreign markets: sales in Europe are planned for 2027.

A defective autopilot has been identified in 115 thousand Xiaomi electric vehicles - because of it, the driver gets into fatal accidents

In mid-September 2025, the Chinese company Xiaomi initiated a large-scale recall program for its first electric car, the SU7 model. The problem is related to the software of the autopilot system, due to the shortcomings of which the likelihood of road accidents increases. Read more here.

2023: Obtaining permission from Chinese authorities to manufacture electric vehicles

In August 2023, the company Xiaomi received approval from the Chinese state plan for the production of electric vehicles, which was an important step towards achieving the manufacturer's goal smartphones of producing cars by early 2024.

2021

Xiaomi has created a company to develop electric vehicles with a capital of $1.55 billion

In early September 2021, Xiaomi officially registered its electric vehicle business. The subsidiary is called Xiaomi EV, its authorized capital amounted to $1.55 billion.

Xiaomi founder and CEO Lei Jun said he feels great support from the automotive industry, since the company has received more than 20 thousand resumes and as of September 1, 2021, Xiaomi EV already officially employs 300 employees.

Xiaomi registered a company to develop electric vehicles with a capital of $1.55 billion

Xiaomi said that its electric vehicle development team conducted a huge number of user research in April-August 2021 conducted more than 2 thousand surveys. Representatives of the company also visited more than 10 industry partners with the main goal of defining the product and forming a team at the next stages. Xiaomi has already promised an initial investment of $10 billion until early 2030.

On August 25, 2021, Xiaomi announced the acquisition of Deepmotion Tech for $77.37 million, a self-driving technology company. This indicates that the holding began to pay special attention to the development of technologies related to the automotive industry. Xiaomi's technological advantages in AI, new materials, as well as other areas will be a strong support for starting in the automotive business.

Lei Jun said that he feels great support from the automotive industry, since the company received more than 20 thousand resumes. The Xiaomi EV team carefully selected talented specialists and formed a team of experienced professionals, he added.

As CNBC notes, the strong excitement during the recruitment of engineers and various kinds of specialists to Xiaomi EV has demonstrated that Xiaomi has become a new force that reflects great expectations among various investors.^[1]

Buying self-driving car technology developer Deepmotion

  At the end of August 2021, Xiaomi announced the purchase of Deepmotion, a company specializing in autonomous driving technologies, for $77.4 million. Read more here. 

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