Xiaomi Prioritizes EV Growth Over Profits in Bid to Become Global Auto Leader

Xiaomi is prioritizing the growth of its new electric vehicle (EV) business over profits in the short term. The company believes that focusing on expanding its EV production and market share will lead to profitability in the long run. Despite significant losses per vehicle sold currently, Xiaomi remains committed to investing heavily in its EV arm, aiming to become a top global carmaker within the next two decades. The company`s recent financial results, showing strong revenue growth, have boosted investor confidence in its EV strategy.