China’s Xiaomi plans to ship more than 400,000 electric cars in 2025.
Chief Executive Officer Lei Jun wrote on social media that the earlier goal of shipping 350,000 cars will be reached this week.
At the same time on Thursday, the company celebrated the 500,000th electric car rolled off the assembly line, Bloomberg news agency reported.
Smartphone and other consumer electronics maker Xiaomi launched its first SU7 electric car in late March 2024.
In the third quarter of 2025, the company increased deliveries 2.7 times to a record 108,800 cars. The electric vehicle and artificial intelligence division made a profit of 700 million yuan ($98 million) in July-September, reaching break-even about 19 months after the launch of its debut electric sedan.
Xiaomi’s stock price fell 2.9 per cent at the end of trading in Hong Kong on Thursday. The company’s capitalisation has grown by 9.3% since the beginning of this year, while the Hang Seng stock index has added almost 28%.