Xiaomi’s New EV Segment to See Accelerated Growth

Xiaomi

In December 2023, Xiaomi (SEHK: 1810), the leading Chinese smartphone manufacturer, unveiled its first electric vehicle (EV) known as the SU7. Anticipated for release in 2024, Xiaomi’s EV segment is projected to generate nearly CN¥11 billion in revenue in 2024, according to Visible Alpha consensus estimates. The trajectory of EV revenues is expected to show sharp growth, reaching a projected ¥26 billion by 2025 and soaring to ¥129 billion by 2030. By 2026, the EV segment is expected to become Xiaomi’s third-largest revenue segment, behind only the company’s smartphone and IoT business segments. Between 2024 and 2030, Xiaomi’s EV revenues are projected to grow at a CAGR of 52%, with the EV segment estimated to account for 24% of Xiaomi’s total revenue by 2030.

Sector: Technology
Industry: Computer Hardware
VA Ticker(s): 1810_HK