Xiaomi Auto Business Revenue Reaches RMB 20.6 Billion in Q2

On August 19, Xiaomi Group released its financial report for the second quarter of 2025. During the reporting period, Xiaomi Group’s total revenue reached 116 billion yuan, exceeding 100 billion yuan for three consecutive quarters, representing a year-on-year increase of 30.5%. Adjusted net profit reached 10.8 billion yuan, surpassing 10 billion yuan again, with a year-on-year growth of 75.4%.

Specifically, revenue from innovative businesses such as smart electric vehicles and AI reached 21.3 billion yuan, entering a phase of rapid, large-scale growth. Among them, revenue from smart electric vehicles was 20.6 billion yuan, while other related businesses generated 600 million yuan.

Image source: Xiaomi Corporation

In this quarter, the gross profit margin for the smart electric vehicles and AI innovation business segment was 26.4%, and the operating loss narrowed to 300 million yuan, exceeding market expectations. This was mainly due to a decrease in core component costs, reduced unit manufacturing costs, and the delivery of the high-end model SU7 Ultra.

In the second quarter, Xiaomi Automobile delivered 81,000 new vehicles, a year-on-year increase of 197.7% from 27,300 units. As of July, cumulative deliveries of Xiaomi vehicles have exceeded 300,000 units. The "luxury high-performance SUV" Xiaomi YU7 was launched, with over 240,000 orders locked within 18 hours of sale. Xiaomi continues to expand its sales and service network, with 335 car sales stores opened in 92 cities across mainland China.

This means that in the first half of this year, XiaomiIntelligent electric vehicles and AI-related innovative businessesRevenue reached 39.9 billion yuan. Xiaomi Automobile's new car deliveries exceeded 150,000 units.

In the second half of the year, sales of Xiaomi cars continued to rise. In July, Xiaomi delivered more than 30,000 vehicles, representing a month-on-month increase of 20% and a year-on-year increase of 121%. To accelerate delivery, Xiaomi is making every effort to ramp up production while also expanding its manufacturing bases.

Xiaomi Automobile's existing Phase I factory is designed with an annual production capacity of 150,000 vehicles, and the monthly output has surged to around 24,000 vehicles, with equipment running at near full capacity. Currently, the Phase II factory with an annual capacity of 150,000 vehicles has also been put into production, and the Phase III factory is under construction.

Gai Shi Automotive Research Institute believes that Xiaomi Auto is expected to reach its breakeven point in 2025. Analysts predict that Xiaomi Auto has the potential to become an ecosystem brand service provider in the future. Relying on core intelligent technologies and self-operated channels, integrating ecosystem services to directly face consumers, Xiaomi Auto's annual sales may reach the range of 1 million to 1.5 million units, accounting for approximately 3% to 5% of the market share.