Xiaomi Starts Earning Profits from its EV Division
Xiaomi's new electric vehicle division has turned profitable roughly 19 months after launching its first car. Combining intelligent vehicles, artificial intelligence, and other initiatives, the business unit generated $4.0 billion in operating profit between July and September in pre interest and taxes revenue. Battery electric vehicles (BEV) alone represented $3.9 billion of the revenue generated during the third quarter of the year. Sales data shows that revenue surged 199% compared to the same period in 2024 and jumped 36 percent from the previous quarter. Vehicle deliveries climbed from 81,302 units in the second quarter to 108,796 units in the third,…