10:58 - 5.06.2025

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June 5, Fineko/abc.az. Xiaomi founder and CEO Lei Jun expects the electric vehicle business to reach profitable level in the 2nd half of the year.

ABC.AZ informs that this segment recorded loss of 500 million yuans ($69.5 million) in the 1st quarter. Revenue amounted to 18.1 billion yuans.

In general, company's net profit for Jan-Mar was 10.68 billion yuans, revenue was 111.29 billion yuans.

Smartphone and other consumer electronics manufacturer Xiaomi released its first electric car, the SU7, at the end of March 2024. In May, the company sold more than 28,000 cars.

In July, Xiaomi plans to launch its second model, YU7.