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Xiaomi CEO Lei Jun anticipates the company's electric vehicle (EV) division will achieve profitability by late 2025, despite a reported loss of 500 million yuan in Q1 2025. The EV segment generated 18.1 billion yuan in revenue, with the SU7 sedan gaining traction and a competitive gross profit margin of 15.4%. As government subsidies decline, Xiaomi's strategic focus on operational efficiency and integration with its smart device ecosystem positions it well in a challenging market.
Xiaomi has unveiled its first electric SUV, the YU7, and a self-designed 3-nanometer chip, the Xring O1, in a bid to compete with Tesla, Apple, and Huawei. The YU7 boasts an impressive 835 km range and rapid acceleration, while the Xring O1 aims to outperform Apple's latest chips, marking a significant shift for the company from budget smartphones to high-tech innovations. This expansion reflects China's push for technological self-reliance amid ongoing U.S.-China tensions.
Deutsche Bank forecasts Xiaomi will deliver 100,000 YU7 SUVs and 280,000 SU7 sedans in 2025, with the YU7's official launch set for July. The company's electric vehicle unit aims for a total of 350,000 deliveries, facing current capacity bottlenecks. The second phase of its Beijing plant is under construction, expected to be completed by mid-June.
Xiaomi is set to launch its self-developed 3nm smartphone chip, Xuanjie 01 (Xring 01), at a product event on May 22. This positions Xiaomi as the fourth global brand to introduce a 3nm processor, following Apple, MediaTek, and Qualcomm, potentially challenging Huawei's Kirin chips, which are limited to 7nm due to US trade restrictions. The company plans to invest 50 billion yuan ($6.9 billion) over the next decade in high-end chip development, signaling a significant shift in the competitive landscape of smartphone technology.
Huawei's HiSilicon has doubled its revenue in 2024, achieving 100% year-over-year growth despite stringent US sanctions, primarily driven by strong domestic smartphone sales. The company has captured 12% of the global premium Android smartphone chip market, but faces increasing competition from MediaTek and challenges in expanding its semiconductor capabilities globally. As part of a diversification strategy, HiSilicon is also venturing into the automotive sector, aiming to reduce reliance on smartphone chips amid ongoing international restrictions.
Xiaomi is set to launch its self-developed Xuanjie O1 smartphone chip, built on second-generation 3nm process technology, making it the fourth company globally to do so. CEO Lei Jun announced that the chip, featuring 19 billion transistors, has been in development for four years and is part of a broader strategy to invest 50 billion yuan in high-end chip development over the next decade. This advancement may provide Xiaomi a competitive edge over Huawei, which is limited to 7nm chips due to production challenges.
The Chinese smartphone market grew by 5% in Q1 2025, with 70.9 million units shipped. Xiaomi led with a 19% market share and 40% annual growth, benefiting from a new device subsidy program, while Huawei followed closely with 18% market share and 12% growth. Oppo and vivo each held 15%, and Apple captured 13%, as AI-capable phones surged to 22% of shipments, expected to reach 40% by year-end.
Xiaomi's founder has been notably quiet on social media this month, while the company reported 5,100 insurance registrations last week, a 34.62% drop from the previous week. In the broader EV market, BYD led with 45,000 registrations, despite a 25.50% decline, while Nio and its sub-brand Onvo saw significant decreases in registrations. Overall, Zeekr and Lynk & Co delivered 40,715 vehicles in March, marking a 30.18% increase from February.
Xiaomi Auto has achieved a significant milestone with 200,000 vehicle deliveries in under a year since its launch. In response to strong market demand, the company has increased its 2025 delivery target to 350,000 units, while enhancing production and advancing technologies in fast charging and autonomous driving.
Angkas, a motorcycle taxi app in the Philippines, faces stiff competition from Move It and JoyRide, especially after Grab's acquisition of Move It, impacting its market share and driver earnings. The industry grapples with regulatory uncertainty, prompting Angkas to explore geographical expansion for growth. Meanwhile, the Indonesian government plans to allocate $20 billion annually to its new sovereign wealth fund, Danantara, aiming for significant investment partnerships.
Lei Jun
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